Lotte Chemical Pakistan profits rise 27.32% to Rs. 412.296 million
MG News | February 02, 2018 at 11:05 AM GMT+05:00
Lotte Chemical Pakistan (LOTTE) today released financial results for the year ending December, 2017. The company reported a Revenue increase of 6.47% to reach Rs. 37.034 billion up from Rs. 34 billion during the same period last year.
Company’s Gross Margin saw a 69% rise during the period, to clock in at Rs. 1.197 billion during the year under review. LOTTE releases on the exchange show a decent performance during the last year ending December, 2017.
Company’s bottom line grew by 27% to Rs. 412 million against last year’s tally of Rs. 323.831 million. The company earnings per share clocked in at 0.27 per share vs. 0.21/ share last year.
| Unconsolidated Profit and Loss Account - For the Year Ended, December 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Revenue | 37,034,324 | 34,785,035 | 6.47% |
| Cost of Sales | 35,836,664 | 34,080,207 | 5.15% |
| Gross Profit | 1,197,660 | 704,828 | 69.92% |
| Distribution and Selling Expenses | 93,462 | 78,004 | 19.82% |
| Administrative Expenses | 350,938 | 332,013 | 5.70% |
| Other Expenses | 54,587 | 28,435 | 91.97% |
| Other Income | 248,610 | 213,573 | 16.41% |
| Finance(costs)/Income | 52,398 | 9,539 | 449.30% |
| Profit before Taxation | 894,885 | 470,410 | 90.24% |
| Taxation | 482,589 | 146,579 | 229.23% |
| Profit after Taxation | 412,296 | 323,831 | 27.32% |
| EPS - Basic & diluted | 0.27 | 0.21 | 28.57% |
Company release on Earnings Report can be accessed here.
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