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

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

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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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