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)