International Industries declares bottom-line earnings of Rs 3.2 billion

MG News | August 21, 2019 at 05:19 PM GMT+05:00

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August 21, 2019 (MLN): International Industries Limited’s profits for the year ended June 30, 2019 amounted to Rs. 3.2 billion (EPS: Rs. 18.26), i.e. nearly 37% less than the figures recorded in last year.

The company suffered mainly at the hands of cost of sales, which increased by 18% during the year.

However, the company gained some respite via increase in non-core income by 82%.

A final Cash Dividend was also announced at Rs.3 per share i.e. 30%. This is in addition to Interim Dividend already paid at Rs. 2.5 per share i.e. 25%.

Profit and loss account for the year ended June 30, 2019 (Rupees'000)
	June, 2019	June, 2018	% Change
Net sales	75,387,444	67,002,967	12.51%
Cost of sales	-66,300,102	-56,182,828	18.01%
Gross profit	9,087,342	10,820,139	-16.01%
Selling and distribution expenses	-1,628,463	-1,601,936	1.66%
Administrative expenses	-605,104	-596,574	1.43%
Impairment (loss)/ reversal on trade debts	-5,618	10,930
Finance cost	-2,213,650	-980,924	125.67%
Other operating charges	-632,165	-834,132	-24.21%
Other income	617,688	337,952	82.77%
Share of profit in equity accounted investee	49,906	41,931	19.02%
Profit before taxation	4,669,936	7,197,386	-35.12%
Taxation	-1,381,044	-1,928,980	-28.41%
Profit after taxation for the year	3,288,892	5,268,406	-37.57%
Earnings per share - basic and diluted	18.26	28.75	-36.49%

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