National Foods' earnings jump by 130% on account of improved top-lines

MG News | February 20, 2019 at 10:30 AM GMT+05:00

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February 20, 2019 (MLN): National Foods Limited (NATF) has announced its consolidated profits for the period ended December 31, 2018, at Rs. 808 million, i.e. nearly 130% higher than the profits earned in corresponding period last year.

This robust growth in earnings was caused by improved core and non-core income of the company, which grew by 13.8% and 719% respectively.

The company declared an Earning per share (EPS) of Rs. 6.22 for the aforementioned period, 134% higher than that of same period last year.

Profit and loss account for the six months ended December 31 2018 (Rupees'000)
	Dec-18	Dec-17	% Change
Sales	11,511,645	10,111,962	13.84%
Cost of sales	-8,072,645	-6,965,121	15.90%
Gross profit	1,439,000	3,146,841	-54.27%
Distribution costs	-1,771,083	-1,983,998	-10.73%
Impairment loss on trade debts	-5,400
Administrative expenses	-595,670	-482,822	23.37%
Other expenses	-54,917	-63,264	-13.19%
Other income	143600	17,517	719.78%
Operating profit	1,155,530	634,274	82.18%
Finance costs	-112,681	-85,717	31.46%
Profit before taxation	1,042,849	548,557	90.11%
Taxation - net	-4272	119
Profit after tax	808,572	351,151	130.26%
Earnings per share (basic and diluted)	6.22	2.65	134.72%

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