Glaxo’s profits diminish by 6% during 2019

March 11, 2020 (MLN): GlaxoSmithKline Pakistan Limited has announced the financial results for the year ended December 31, 2019, which show that the company has earned profits of Rs. 3.04 billion (EPS: Rs. 9.55), i.e. around 6% lower than those of previous year.

The company also announced a Cash Dividend for the period at Rs. 6 per share i.e. 60%.

The company’s topline earning surged by 7.5%, while cost of sales increased by 12.8%, causing the gross profit to fall by 8.3%. On the other hand, the non-core income surged by 35% whereas non-core expenses fell by merely 1%.

Financial Results for the year ended March 31, 2019 ('000 Rupees)

 

Dec-19

Dec-18

% Change

Sales

36,581,749

34,006,840

7.57%

Cost of Sales

(28,870,246)

(25,593,240)

12.80%

Gross Profit

7,711,503

8,413,600

-8.34%

Selling, marketing and distribution expenses

(3,320,549)

(3,571,512)

-7.03%

Administrative expenses

(1,098,946)

(1,076,631)

2.07%

Other operating expenses

(393,563)

(397,582)

-1.01%

Other income

1,991,462

1,471,634

35.32%

Profit from operations

4,889,907

4,839,509

1.04%

Finance cost

(289,611)

(147,392)

96.49%

Profit before taxation

4,600,296

4,692,117

-1.96%

Taxation

(1,559,173)

(1,460,195)

6.78%

Profit after taxation

3,041,123

3,231,922

-5.90%

Earnings per share (Rupees)

9.55

10.15

-5.91%

 

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Posted on: 2020-03-11T14:58:00+05:00

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