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National Foods records 71% growth in nine-monthly profits

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April 29, 2019 (MLN): National Foods Limited (NATF) has announced a nine month profit of Rs.991.8 million (EPS: Rs.7.62) at the end of March 2019, marking a 71% hike over the nine month profit recorded in the corresponding period of last year (Rs.580 million, EPS: Rs.4.48).

While the company’s overall expenses marked noticeable growth during the period, the non-core income expanded substantially as it recorded a growth of Rs.122.3 million and logging in at Rs.144.6 million.

National Food’s net taxation (Rs.231.7 million) also recorded a decline of 23.3% over the year.

Consolidated Financial Results for the nine months ended March 31, 2019 ('000 Rupees)

 

Mar-19

Mar-18

% Change

Sales

                       17,225,380

                       15,224,657

13.14%

Cost of sales

                     (12,158,567)

                     (10,434,000)

16.53%

Gross profit

                          5,066,813

                          4,790,657

5.76%

Distribution cost

                       (2,839,713)

                       (3,073,800)

-7.62%

Impairment loss on trade debts

                                (5,400)

                                         –  

 

Administrative expenses

                           (869,039)

                           (652,800)

33.12%

Other expenses

                             (68,790)

                             (57,808)

19.00%

Other income

                             144,588

                                22,318

547.85%

Operating profit

                          1,428,459

                          1,028,567

38.88%

Finance costs

                           (204,954)

                           (146,510)

39.89%

Profit before taxation

                          1,223,505

                             882,057

38.71%

Taxation – net

                           (231,690)

                           (302,000)

-23.28%

Profit after tax

                             991,815

                             580,057

70.99%

Basic and diluted earnings per share – Rupees

                                    7.62

                                    4.48

70.09%

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Posted on: 2019-04-29T17:54:00+05:00

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