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 30th 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.
