Murree Brewery’s profits lift by 5% owing to increase in topline earnings

MG News | October 25, 2018 at 05:01 PM GMT+05:00

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October 25, 2018 (MLN): Murree Brewery Company Ltd. (MUREB) has reported an augmentation of Rs274.47million (11.38%) in top-line earnings, which has elevated the company's profits by 5.01% during the quarter ended on September 30, 2018 as compared to the corresponding period of prior year.

According to the financial results announced by the company, although selling and distribution cost, administrative cost and other expenses recorded an escalation of 48.31%, 21.31% and 4.5% respectively, but the impact was not significant enough to drag down the profits of the company.

The Earnings per share of the company exhibited an increase of around 5% from Rs14.98 per share to Rs15.73 per share.

Statement of Profit and Loss for the Quarter ended September 30th 2018 ('000 Rupees)

	Sep-18	Sep-17	% Change
Revenue	2,685,927	2,411,454	11.38%
Cost of Sales	(1,855,843)	(1,684,701)	10.16%
Gross profit	830,084	726,753	14.22%
selling and distribution expenses	(270,529)	(182,406)	48.31%
Administrative expenses	(100,021)	(82,454)	21.31%
Other expenses	(34,380)	(32,900)	4.50%
Other income	23,486	18,578	26.42%
Operating profit	448,640	447,572	0.24%
finance cost	(4,006)	(987)	305.88%
Finance income	48,815	33,041	47.74%
Net finance (cost)/income	44,809	32,054	39.79%
profit before tax	493,449	479,625	2.88%
Income tax expenses	(130,834)	(134,321)	-2.60%
Profit for the year	362,615	345,304	5.01%
Earnings per share - basic and diluted (Rupees)	15.73	14.98	5.01%