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

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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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