International Industries declares bottom-line earnings of Rs 3.2 billion
MG News | August 21, 2019 at 05:19 PM GMT+05:00
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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