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

MG News | October 23, 2020 at 03:13 PM GMT+05:00

0:00

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

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,448.45 141.38M	0.18% 284.64
ALLSHR	98,955.27 416.18M	0.17% 165.94
KSE30	49,535.99 58.44M	0.24% 117.40
KMI30	236,105.85 31.10M	0.22% 513.05
KMIALLSHR	65,008.50 150.43M	0.08% 53.33
BKTi	45,600.91 34.52M	0.36% 163.14
OGTi	32,024.18 1.49M	-0.39% -125.96

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	113,830.00	114,720.00 113,620.00	-1240.00 -1.08%
BRENT CRUDE	65.51	65.76 65.36	-0.11 -0.17%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.00 -1.23%
ROTTERDAM COAL MONTHLY	92.50	92.50 92.50	0.35 0.38%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	61.17	61.50 61.08	-0.14 -0.23%
SUGAR #11 WORLD	14.47	15.04 14.34	-0.50 -3.34%