National Foods sees over 7% growth in half-year profit

MG News | February 25, 2025 at 08:51 AM GMT+05:00

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February 25, 2025 (MLN): National Foods Limited (PSX: NATF) posted a profit after tax of Rs1.61 billion for the half-year ended December 31, 2024, reflecting a 7.32% increase compared to Rs1.50 billion in the same period last year.

The company has declared an interim cash dividend of Rs2 per share (40%).

The company’s revenue surged 17.76% to Rs47.26bn, compared to Rs40.13bn in the same period last year, driven by strong sales performance.

Despite an 18.49% increase in the cost of sales, the gross profit grew by 15.84% to Rs12.79bn.

However, the company faced higher operating costs, with selling and distribution expenses rising by 15.26%, administrative expenses increasing 27.36%, and finance costs jumping 29.76% due to higher interest rates.

On the tax front, total taxes increased by 35.24%, amounting to Rs93.42mn compared to Rs69.08mn in the corresponding period last year.

The company's earnings per share (EPS) stood at Rs4.67, reflecting a 7.11% increase from Rs4.36 last year.

Despite a strong operational performance, the company’s total comprehensive income declined by 5.30% due to foreign exchange translation losses of Rs270.85mn

Consolidated Profit and Loss For The Half Year Ended December 31, 2024
	Dec-24	Dec-23	%Change
Sales - net	47,256,470	40,129,537	17.76%
Cost of sales	(34,469,778)	(29,091,104)	18.49%
Gross profit	12,786,692	11,038,433	15.84%
Selling and distribution costs	(6,823,038)	(5,919,921)	15.26%
Impairment loss on trade debts	(16,658)	(20,898)	-20.25%
Administrative expenses	(2,458,177)	(1,930,104)	27.36%
Operating profit	3,487,819	3,167,510	10.11%
Other expenses	(43,066)	(41,056)	4.89%
Other income	237,524	97,223	144.31%
Finance costs	(1,413,785)	(1,089,529)	29.76%
Profit before tax, minimum tax differential, and income tax	2,268,492	2,134,148	6.29%
Final taxes	(4,179)	(16,239)	-74.27%
Minimum tax	(89,242)	(52,841)	68.89%
Total taxes	(93,421)	(69,080)	35.24%
Profit before income tax	2,175,071	2,065,068	5.33%
Income tax	(565,634)	(565,393)	0.04%
Profit for the period	1,609,436	1,499,675	7.32%
Other comprehensive income for the period
Foreign operations - Exchange differences on translation of foreign operations	(270,847)	(86,244)	214.05%
Total comprehensive income for the period	1,338,589	1,413,431	-5.30%
Profit attributable to:			#DIV/0!
Owners of the Holding Company	1,088,628	1,016,888	7.05%
Non-controlling interest	520,808	482,787	7.88%
Total comprehensive income attributable to:
Owners of the Holding Company	917,914	925,944	-0.87%
Non-controlling interest	420,675	487,487	-13.71%
Earnings per share (basic and diluted) (Rupees)	4.67	4.36	7.11%

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