GLAXO’s net profits improve remarkably by 52% on account of higher sales

March 19, 2019 (MLN): GlaxoSmithKline Consumer Healthcare Pakistan Limited (GSKCH) has announced net earnings of Rs. 1.07 billion for the year ended December 31, 2018, showing a 52% increase as compared to last year. The Earning per share of the company stood at Rs. 9.18, i.e. 24% higher than that if last year.

The remarkable progress in the net profits was a result of massive improvement in the company’s topline earnings, which grew by 79% to Rs. 14.8 billion.

Even though the company’s cost of sales almost doubled up over the year, the company still managed to report a positive gross profit margin.

Moreover, in spite of a major increase in the company’s financial charges, the net impact on the company’s final earnings of this change was insignificant.  

The company also announced a final cash dividend of Rs. 5 per share, i.e. 50%, was announced in the aforementioned period.

Profit and loss account for the year ended December 31 2018 (Rupees'000)

 

Dec-18

Dec-17

% Change

Sales

14,875,268

8,298,142

79.26%

Cost of Sales

-10,535,195

-5,196,906

102.72%

Gross Profit

4,340,073

3,101,236

39.95%

Selling, Marketing and distribution expenses

-2,376,943

-1,822,037

30.46%

Administrative expenses

-288,796

-192,969

49.66%

Other operating expenses

-127,198

-88,464

43.79%

Other Income

141,362

181,205

-21.99%

Operating Profit

1,688,498

1,178,971

43.22%

Financial Charges

-225,805

-8,134

2676.06%

Profit before taxation

1,462,693

1,170,837

24.93%

Taxation

-388,140

-464,023

-16.35%

Profit after taxation

1,074,553

706,814

52.03%

Earnings per share

9.18

7.39

24.22%

 

Copyright Mettis Link News

Posted on: 2019-03-19T10:29:00+05:00

26815