National Foods Limited sees a 15.2% rise in its net profits
MG News | August 30, 2019 at 11:16 AM GMT+05:00
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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