National Foods Limited sees a 15.2% rise in its net profits

MG News | August 30, 2019 at 11:16 AM GMT+05:00

0:00

August 30, 2019 (MLN): The overall profits of National Foods Limited have jumped by 15.2% during the year ended June 30th 2019, as they grew from Rs. 946 million in last year to Rs. 1 billion this year.

The relevant report issued to PSX revealed that the company’s sales revenue touched a total of Rs. 16 billion during the year, which is merely 2.6% higher than last year.

Even though the company saw an increase in taxes by 134%, the overall impact on the net profit was still positive.

The company’s Earnings per share stood at Rs. 8.77 during the said period, i.e. 15% higher than the EPS of last year.

Moreover, the company announced a final Cash Dividend for the year at Rs. 4 per share i.e. 80%.

The Board of Directors also recommended to issue Bonus Shares in the proportion of one (1) share for every five (5) shares held i.e. 20%.

Profit and loss account for the year ended June 30, 2019 (Rupees'000)
	June, 2019	June, 2018	% Change
Sales	16,602,206	16,178,301	2.62%
Cost of sales	-11,283,038	-10,614,639	6.30%
Gross profit	5,319,168	5,563,662	-4.39%
Distribution costs	-2,922,212	-3,361,085	-13.06%
Impairment loss on trade debts	-17,283	-107,681	-83.95%
Administrative expenses	-1,005,904	-767,127	31.13%
Other expenses	-108,753	-210,531	-48.34%
Other income	254,662	53,920	372.30%
Operating profit	1,519,678	1,171,158	29.76%
Finance costs	-157,070	-108,388	44.91%
Profit before taxation	1,362,608	1,062,770	28.21%
Taxation	-271,746	-116,164	133.93%
Profit / (loss) after taxation	1,090,862	946,606	15.24%
Earnings per share - basic and diluted	8.77	7.61	15.24%

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