Murree Brewery reports 40.8% rise in annual bottom-line profits

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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Posted on: 2018-09-13T16:02:00+05:00

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