National Foods’ profits uplifted on account of boosted sales

11:50
October 18, 2018
MG

October 18, 2018 (MLN): National Food’s improved topline earnings brought about an increment of 22% in profit for the period July-Sept, 2018.

According to the company’s financial earnings report, National foods’ sales rose by 11.4% while its gross profits recorded a growth of 13.7% over the corresponding period of last year.

While overall expenses along with finance costs grew on the whole, a comparatively small relief from reduced tax provisions, and the higher topline earnings managed to ensure a rise in profits by Rs.82 million.

National foods also reported a 26.9% increase in its basic and diluted earnings per share as they logged in at Rs.4.15 per share against Rs.3.27 per share, previously.

Financial Results for the first quarter ended on September 30th 2018 ('000 Rupees)
	Sep-18	Sep-17	% Change
Sales	6,209,904	5,573,841	11.41%
Cost of sales	(4,158,750)	(3,769,578)	10.32%
Gross profit	2,051,154	1,804,263	13.68%
Distribution cost	(1,122,135)	(1,013,634)	10.70%
Administrative expenses	(267,335)	(198,040)	34.99%
Other expenses	(41,985)	(43,235)	-2.89%
Other income	13,671	6,543	108.94%
Operating profit	633,370	555,897	13.94%
Finance costs	(56,686)	(39,841)	42.28%
Profit before taxation	576,684	516,056	11.75%
Taxation – net	(134,000)	(155,393)	-13.77%
Profit after tax	442,684	360,663	22.74%
Basic and diluted earnings per share – Rupees	4.15	3.27	26.91%

Copyright Mettis Link News

Posted on: 2018-10-18T16:50:00+05:00

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