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

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.

Posted on: 2018-04-16T16:42:00+05:00