MUREB’s net profits rise by 3.33%
MG News | October 24, 2019 at 02:21 PM GMT+05:00
October 24, 2019 (MLN): Murree Brewery Company Ltd. (MUREB) has reported its net earnings of Rs. 374 million, up by 3.33% during the quarter ended on September 30, 2019, as compared to the corresponding period of the prior year.
According to the financial results announced by the company, although administrative cost and other expenses recorded an escalation of 22.33%, and 13.06% respectively, the impact was not significant enough to drag down the profits of the company.
The company’s profitability increased owing to an increase in finance income, up by 70.20%, from Rs 48 million to Rs 83 million.
The earnings per share of the company exhibited an increase of around 3.36 from Rs 13.11 per share to Rs 13.55 per share.
| Statement of Profit and Loss for the Quarter ended September 30th 2019 ('000 Rupees)
| |||
|---|---|---|---|
|
| Sep-19 | Sep-18 | % Change |
| Net Turnover | 2,729,317 | 2,756,944 | -1.00% |
| Cost of Sales | (1,903,174) | (1,926,860) | -1.23% |
| Gross profit | 826,143 | 830,084 | -0.47% |
| selling and distribution expenses | (259,353) | (270,529) | -4.13% |
| Administrative expenses | (122,352) | (100,021) | 22.33% |
| Other expenses | (38,869) | (34,380) | 13.06% |
| Other income | 21,844 | 23,486 | -6.99% |
| Operating profit | 427,413 | 448,640 | -4.73% |
| finance cost | (4,062) | (4,006) | 1.40% |
| Finance income | 83,083 | 48,815 | 70.20% |
| Net finance (cost)/income | 79,021 | 44,809 | 76.35% |
| profit before tax | 506,434 | 493,449 | 2.63% |
| Income tax expenses | (131,728) | (130,834) | 0.68% |
| Profit for the year | 374,706 | 362,615 | 3.33% |
| Earnings per share - basic and diluted (Rupees) | 13.55 | 13.11 | 3.36% |
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