International Industries witnessed an overall growth of almost 30% in annual profits, mainly due to a significant increase in earnings from other income. The profit for the period is recorded at Rs.5.3 billion from Rs.4 billion during the FY-17.
These results were declared in a Board of Directors meeting held on August 16th 2018.
The company’s Net sales increased by 46% while the Gross profits went up by 21%.
Although all the expenses observed an increase as compared to the last year, other income grew by a far greater margin of 91%, leading to an 18% increase in Profits before taxation.
Since international industries managed to reduce their tax provision by 4%, the overall profits for the period registered a growth of 29.6%
Other than this, the company’s Earnings per share increased from Rs.22.91 per share during FY-17 to Rs.28.75 per share during the current Financial Year, ended on June 30th 2018.
Furthermore, The Board of Directors have decided to recommend the payment of a 65% final cash dividend i.e. Rs.6.50 per share in addition to the interim dividend of 20%, already paid, making a total dividend of 85% i.e. Rs.8.50 per share for the year ended 30th June 2018.
|
Financial Results for the Year ended June 30th 2018 (Rupees in '000) |
|||
|
|
Jun-18 |
Jun-17 |
% Change |
|
Net sales |
64,541,879 |
44,117,667 |
46.29% |
|
Cost of sales |
(53,721,740) |
(35,211,228) |
52.57% |
|
Gross profit |
10,820,139 |
8,906,439 |
21.49% |
|
Selling and distribution expenses |
(1,591,006) |
(1,236,315) |
28.69% |
|
Administrative expenses |
(596,574) |
(522,052) |
14.27% |
|
Finance cost |
(980,924) |
(679,731) |
44.31% |
|
Other operating charges |
(834,132) |
(604,779) |
37.92% |
|
Other income |
337,952 |
176,315 |
91.68% |
|
Share of profit in equity accounted investee – net of tax |
35,222 |
35,753 |
-1.49% |
|
Profit before taxation |
7,190,677 |
6,075,630 |
18.35% |
|
Taxation |
(1,922,271) |
(2,010,547) |
-4.39% |
|
Profit after taxation for the year |
5,268,406 |
4,065,083 |
29.60% |
|
Earnings per share – basic and diluted (Rupees) |
28.75 |
22.91 |
25.49% |
22669
