National Foods' earnings jump by 130% on account of improved top-lines
MG News | February 20, 2019 at 10:30 AM GMT+05:00
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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