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Habib Sugar Mills Profits jump up by 60%

December 26, 2018 (MLN): Habib Sugar Mills Limited’s bottom-line earnings for the year ended September 30th, 2018 have jumped up by 60.6% to Rs 895 million, owing to an increase in sales revenue along with reduction in cost of sales as compared to the corresponding period last year.

Even though the company’s overall expenses increased substantially, a remarkable growth of 428% in operating profits enabled the company to drive its profits up by Rs. 337 million.

Moreover, company’s basic and diluted earnings per share exhibited an increase of 60% as it grew from RS3.72 to Rs 5.97.

Company’s Board of Directors has announced a final cash dividend at Rs 2.75 per share i.e 55%.

 

Consolidated Financial results for the year ended September 30, 2018 (Rupees in thousands)

 

 

Sep-18

Sep-17

% change

Net sales and services

            7,758,520.00

     7,134,930.00

8.73995961

Cost of sales

            6,484,368.00

     6,544,790.00

-0.92320762

Gross Profit

            1,274,152.00

        590,140.00

115.906734

Selling and distribution expenses

             (252,147.00)

      (175,440.00)

43.7226402

Administrative expenses

             (183,021.00)

      (157,833.00)

15.9586398

Other operating expenses

               (56,883.00)

        (32,054.00)

77.4599114

Impairment on long-term investments – available for sale

               (45,445.00)

 

 

Other income

               162,419.00

        246,099.00

-34.0025762

 

             (375,077.00)

      (119,228.00)

214.588016

Operating Profit

               899,075.00

        470,912.00

90.9220831

Finance income – net

                 53,630.00

          26,407.00

103.09009

Profit before taxation

               952,705.00

        497,319.00

91.5681886

Taxation

               (57,624.00)

          60,000.00

 

Profit after taxation

               895,081.00

        557,319.00

60.6047883

Earnings per share – Basic and diluted

                          5.97

                   3.72

60.483871

Copyright Mettis Link News

Posted on: 2018-12-26T15:50:00+05:00

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