MUREB reports 4.53% growth in half-year profits
By MG News | February 25, 2019 at 03:07 PM GMT+05:00
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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