September 24, 2018 (MLN): Ismail Industries Limited (ISIL)’s annual profits for the year ended June 30th 2018, escalated by 21% on a year-on-year basis, primarily due to considerable improvements in top-line earnings.
The company’s financial earnings for the year were reviewed earlier today during the Board of Directors meeting, where a comparison with the prior year’s earnings was drawn as well.
According to the financial earnings’ report issued to the PSX, the company’s sales witnessed a leap of around Rs.5 billion, exhibiting a growth of almost 22%.
Moreover, since cost of sales grew by a comparatively smaller margin, Ismail Industries’ gross profits increased by 44%.
Although selling and distribution expenses registered an increase of 74%, the company still managed to keep its operating profit on an upward trend, as they recorded a YoY rise of 16%.
In addition to this, taxation during the year dropped by almost 11%, therefore the company’s annual profits increased from Rs.1.1 billion to Rs.1.4 billion, YoY.
Earnings per share went up by 21% as well, as they rose from Rs.17.83 per share to Rs.21.6 per share.
The board also recommended a final cash dividend at Rs.4.5 per share, i.e. 45%.
|
Consolidated Financial Results for the Year Ended June 30th 2018 (Rupees) |
|||
|---|---|---|---|
|
|
Jun-18 |
Jun-17 |
% Change |
|
Sales |
28,055,265,973 |
23,014,395,587 |
21.90% |
|
Sales tax |
(4,149,047,950) |
(3,409,534,324) |
21.69% |
|
Net Sales |
23,906,218,023 |
19,604,861,263 |
21.94% |
|
Cost of sales |
(18,544,995,038) |
(15,883,600,917) |
16.76% |
|
Gross profit |
5,361,222,985 |
3,721,260,346 |
44.07% |
|
Selling and distribution expenses |
(2,896,266,866) |
(1,663,043,697) |
74.15% |
|
Administrative expenses |
(413,888,986) |
(287,688,879) |
43.87% |
|
Operating profit |
2,051,067,133 |
1,770,527,770 |
15.84% |
|
Other operating expenses |
(254,651,191) |
(147,686,289) |
72.43% |
|
Other income |
232,816,026 |
195,266,876 |
19.23% |
|
Finance cost |
(618,097,025) |
(671,271,174) |
-7.92% |
|
Share of profit from associated undertaking |
393,211,150 |
468,289,213 |
-16.03% |
|
Profit before tax |
1,804,346,093 |
1,615,126,396 |
11.72% |
|
Taxation |
(425,822,163) |
(477,207,880) |
-10.77% |
|
Profit for the year |
1,378,523,930 |
1,137,918,516 |
21.14% |
|
Earnings per share – basic and diluted |
21.60 |
17.83 |
21.14% |
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