MUREB reports 4.53% growth in half-year profits

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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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