Lotte Chemical performs terrifically in FY18, profits jump from Rs412 mln to Rs4.4 bln

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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Posted on: 2019-02-14T12:31:00+05:00

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