Nestle Pakistan manages to lift its earnings by 13% in 9MCY20

October 23, 2020 (MLN): Nestle Pakistan Limited has earned profits of Rs. 6.19 billion (EPS: 136.62) for the nine months ended September 30, 2020, i.e. 13% higher than the net income recorded in the same period of last year.

The company also announced a second Interim Cash Dividend of Rs. 50 per share i.e. 500%.

According to the financial report issued by the company, the net revenue grew merely by 2% whereas the cost of sales surged by 1%, prompting the gross profit to grow by 4%.

Some respite was gained from a 24% decline in non-core expense, however, the impact of that was mostly negated by a fall in other income by 40%.

Other significant costs such as Finance and Taxation increased by 3.1% and 11.2%, respectively.

Financial Results for the nine months ended September 30, 2020 (Rupees'000)

 

Sep-20

Sep-19

% Change

Net sales

    88,669,523

    87,053,262

1.9%

Cost of goods sold

 (62,736,054)

  (62,136,593)

1.0%

Gross profit

    25,933,469

    24,916,669

4.1%

Distribution costs

 (10,642,277)

  (11,124,593)

-4.3%

Administrative expenses

    (3,455,230)

    (2,852,838)

21.1%

Other expenses

       (855,364)

    (1,122,499)

-23.8%

Other income

          153,881

          255,853

-39.9%

Finance cost

    (2,383,560)

    (2,310,920)

3.1%

Profit before taxation

      8,750,919

       7,761,672

12.7%

Taxation

    (2,555,303)

    (2,297,349)

11.2%

Profit after taxation

      6,195,616

       5,464,323

13.4%

Earnings per share

136.62

120.49

13.4%

 

Copyright Mettis Link News

Posted on: 2020-10-23T15:13:00+05:00

37620