Nestle Pakistan Ltd. profits fall 17.35 percent to Rs. 3.388 billion

By MG News | April 16, 2018 at 04:42 PM GMT+05:00

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Nestle Pakistan (NESTLE) today announced financial results for the twelve months period ending 31 March, 2018 reporting Net Sales worth Rs. 32.856 billion. Furthermore, the company’s gross profit during the outgoing nine months fell by 2 percent to reach 11.196 billion.

NESTLE reported a 13.96 percent decline in Operating Profit clocking in at 5.394 billion, finance costs increasing by 82 percent, with Cost of Goods sold jumping by 14.02 percent as well.

On the expenses front, Distribution and Expenses were up by 12 percent, Administration Expenses were also up by 15.74 percent cumulatively taking away 5.802 billion from the bottom line profits.

Other income also reported a 51 percent increase, coupled with the 82 percent jump in financing costs, the company reported an EPS of Rs. 74.73 vs. an EPS of Rs 90.42 during the twelve months ending March, 2017.

Comparison of Key Financials

Unconsolidated Profit and Loss Account – Twelve Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Net Sales	32,856,849	30,416,937	8.02%
Cost of Goods Sold	21,660,796	18,996,562	14.02%
Gross Profit	11,196,053	11,420,375	-1.96%
Distribution and Selling Expenses	4,914,658	4,384,518	12.09%
Administration Expenses	887,395	766,741	15.74%
Operating Profit	5,394,000	6,269,116	-13.96%
Finance Cost	355,532	195,391	81.96%
Other Operating Expenses	412,289	468,229	-11.95%
Other Income	68,334	45,169	51.29%
Profit before Taxation	4,694,513	5,650,665	-16.92%
Taxation	1,305,520	1,550,364	-15.79%
Profit after Taxation	3,388,993	4,100,301	-17.35%
EPS	74.73	90.42	-17.35%

Company release on Earnings Report can be accessed here.

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