MUREB reports 4.53% growth in half-year profits

MG News | February 25, 2019 at 03:07 PM GMT+05:00

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February 25, 2019 (MLN): Murree Brewery Company Limited’s Profits after tax (PAT) have reportedly increased by 4.53% for the half year ended December 31, 2018 as compared to correspondiong period last year. Moreover, the EPS of the company for the said period has been stated at Rs. 23.78 per share.

The company also informed that the Supreme Court’s decision of December 2018, in relation to a tax on extracted or surface water, could affect the profitability of the company in future, in case the review petition filed in the court is not upheld

Profit and loss account for the six months ended December 31 2018 (Rupees'000)
	Dec-18	Dec-17	% Change
TURNOVER
Third party turnover - gross	7,203,124	6,550,914	9.96%
Less: Trade discounts	-177,362	-126,127	40.62%
Third party turnover - net	7,025,762	6,424,787	9.35%
Inter division sales
Sales tax and excise duty	-2,443,808	-2,268,128	7.75%
Revenue	4,581,954	4,156,659	10.23%
COST OF SALES
Third parties	-3,037,607	-2,756,081	10.21%
Inter division cost
	-3,037,607	-2,756,081	10.21%
GROSS PROFIT	1,544,347	1,400,578	10.26%
Selling and distribution expenses	-441,194	-333,896	32.14%
Administrative expenses	-207,992	-206,607	0.67%
Other expenses	-68825	-68,980	-0.22%
Other income	16,062	36,230	-55.67%
Operating profit	842,398	827,325	1.82%
Finance costs	-10,217	-2,046	399.36%
Finance income	135,612	94,044	44.20%
Net finance (cost)/ income	125,395	91,998	36.30%
Profit before tax	967,793	919,323	5.27%
Income tax expense	-309,930	-289,913	6.90%
Profit for the year	657,863	629,410	4.52%
Earnings per share - basic and diluted (Rupees)	23.78	22.75	4.53%

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