Nestlé’s half year profits drop by 21%

Financial Result for the period ended June 30th 2018 ('000 Rupees)

Jun-18

Jun-17

% Change

Sales - net

                     64,567,801

                     61,941,060

4.24%

Cost of goods sold

                  (42,175,969)

                  (38,223,982)

10.34%

Gross Profits

                     22,391,832

                     23,717,078

-5.59%

Distribution and selling expenses

                     (9,843,421)

                     (9,419,774)

4.50%

Administration expenses

                     (1,662,179)

                     (1,415,814)

17.40%

Operating profits

                     10,886,232

                     12,881,490

-15.49%

Finance cost

                        (795,416)

                        (477,229)

66.67%

Other operating expenses

                        (848,843)

                        (976,567)

-13.08%

Other income

                           120,562

                           148,934

-19.05%

Profit before taxation

                       9,362,535

                     11,576,628

-19.13%

Taxation

                     (3,102,789)

                     (3,642,931)

-14.83%

Profit after taxation

                       6,259,746

                       7,933,697

-21.10%

Earnings per share - Basic and Diluted (Rupees)

                             138.03

                             174.95

-21.10%