Lotte Chemical performs terrifically in FY18, profits jump from Rs412 mln to Rs4.4 bln
MG News | February 14, 2019 at 12:31 PM GMT+05:00
February 14, 2019 (MLN): Lotte Chemical Pakistan Limited performed terrifically during the year ending December 31, 2018, as its bottom-line earnings grew from Rs. 412 million last year to Rs. 4.4 billion, all thanks to the improved sales revenue which improved by 55%.
The company also managed to control its operating expenses as they didn’t depict any significant growth.
In spite of Finance cost and Taxation expense increasing substantially, the company still managed to perform extraordinarily, which was evident by 974% improvement in profits.
Moreover, the EPS of the company was reported at Rs. 2.93 for the aforementioned period.
| Profit and loss account for the year ended December 31 2018 (Rupees'000) | |||
|---|---|---|---|
|
| Dec-18 | Dec-17 | % Change |
| Revenue | 57,400,241 | 37,034,324 | 54.99% |
| Cost of sales | -50,018,605 | -35,836,664 | 39.57% |
| Gross profit | 7,381,636 | 1,197,660 | 516.34% |
| Distribution and selling expenses | -102,444 | -93,462 | 9.61% |
| Administrative expenses | -387,655 | -350,938 | 10.46% |
| Other expenses | -555,343 | -54,587 | 917.35% |
| Other income | 514,501 | 248,610 | 106.95% |
| Finance costs | -505,129 | -52,398 | 864.02% |
| Profit before taxation | 6,345,566 | 894,885 | 609.09% |
| Taxation | -1,914,466 | -482,589 | 296.71% |
| Profit after taxation | 4,431,100 | 412,296 | 974.74% |
| Earnings per share - basic and diluted (in Rupees) | 2.93 | 0.27 | 985.19% |
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