Murree Brewery reports 40.8% rise in annual bottom-line profits
MG News | September 13, 2018 at 04:02 PM GMT+05:00
Murree Brewery Company Limited reported 40.8% gains in it bottom-line profits, as the profits rose from Rs.920.8 million during the year ended June 30 2017, to Rs.1.3 billion during the year ended June 30th 2018.
The Company conducted its Board of Directors meeting earlier today, in which the financial earnings for the year were reviewed and late issued to PSX.
According to the report, MUREB’s revenue increased by 24%, and reduced cost of sales resulted in a 32% rise in gross profits.
The company’s operating profits witnessed a growth of 38%, and despite a growth of 23.6% in income tax expenses, the overall profits took a leap of 40.8%, YoY.
Earnings per share for the year rose from Rs.39.94 per share to Rs.56.23 per share, on a year-on-year basis.
| Statement of Profit and Loss for the year ended June 30th 2018 ('000 Rupees) | |||
|
| Jun-18 | Jun-17 | % Change |
| Revenue | 8,861,869 | 7,139,601 | 24.12% |
| Cost of Sales | (5,992,619) | (4,972,774) | 20.51% |
| Gross profit | 2,869,250 | 2,166,827 | 32.42% |
| Selling and distribution expenses | (756,711) | (595,279) | 27.12% |
| Administrative expenses | (425,792) | (336,215) | 26.64% |
| Other expenses | (121,212) | (94,629) | 28.09% |
| Other income | 90,021 | 58,996 | 52.59% |
| Operating profit | 1,655,556 | 1,199,700 | 38.00% |
| Finance cost | (20,134) | (16,690) | 20.64% |
| Finance income | 192,446 | 167,933 | 14.60% |
| Net finance (cost)/income | 172,312 | 151,243 | 13.93% |
| Profit before tax | 1,827,868 | 1,350,943 | 35.30% |
| Income tax expenses | (531,507) | (430,136) | 23.57% |
| Profit for the year | 1,296,361 | 920,807 | 40.79% |
| Earnings per share - basic and diluted (Rupees) | 56.23 | 39.94 | 40.79% |
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