Nestle's profits report a decline of 23.85% for 3QFY19
MG News | October 23, 2018 at 03:32 PM GMT+05:00
October 23, 2018 (MLN): Nestle Pakistan Limited profits have stated a decline of Rs. 2.7 billion for the nine months period ended 30 September 2018, down by 23.85% as compared to the same period last year.
As per the notification issued by PSX, the revenue for the company improved only slightly by 1.83% whereas the cost of sales grew by 6.72%, the combined effect of which caused the gross profit to lower by 6.53%.
In a similar stance, the Distribution and Administrative expenses of the company reported an increase of 4.71% and 10.425 respectively, causing the operating profits to decline by 17.13%
The increase in Finance costs by 68.32% further eroded the profitability of the company, causing the profit before tax to sink by 21.55%
The income taxes, however, exhibited a decline of 16.24%, ameliorating the impact of increased expenses on the overall profits.
The Earnings per share of the company reported a decline of 23.86% for the period ended September 30, 2018.
The company announced its 2nd Interim Cash Dividend at Rs.75 per share
| Profit and loss account for the nine months ended September 30th 2018 (Rupees’000) | |||
|---|---|---|---|
| Sep-18 | Sep-17 | % Change | |
| Sales-net | 94,085,454 | 92,395,385 | 1.83% |
| Cost of goods sold | -62,182,700 | -58,264,419 | 6.72% |
| Gross Profit | 31,902,754 | 34,130,966 | -6.53% |
| Distribution and selling expenses | -14,506,069 | -13,853,333 | 4.71% |
| Administration expenses | -2,373,627 | -2,149,680 | 10.42% |
| Operating profit | 15,023,058 | 18,127,953 | -17.13% |
| Finance cost | -1,264,668 | -751,348 | 68.32% |
| Other operating expenses | -1,218,676 | -1,387,379 | -12.16% |
| Other income | 200,094 | 250,417 | -20.10% |
| Profit before taxation | 12,739,808 | 16,239,643 | -21.55% |
| Taxation | -4,110,996 | -4,907,908 | -16.24% |
| Profit after taxation | 8,628,812 | 11,331,735 | -23.85% |
| Earnings per share (Rupees) | 190.27 | 249.88 | -23.86% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 162,803.16 353.00M | 0.72% 1171.42 |
| ALLSHR | 98,852.42 947.86M | 0.61% 597.68 |
| KSE30 | 49,497.35 204.97M | 0.24% 120.05 |
| KMI30 | 234,519.02 114.11M | 0.78% 1818.74 |
| KMIALLSHR | 64,510.15 338.03M | 0.52% 330.55 |
| BKTi | 45,699.73 99.84M | -1.37% -634.44 |
| OGTi | 31,506.29 9.79M | 0.46% 143.56 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 108,510.00 | 111,290.00 107,325.00 | -1810.00 -1.64% |
| BRENT CRUDE | 64.71 | 65.32 64.38 | -0.06 -0.09% |
| RICHARDS BAY COAL MONTHLY | 86.00 | 0.00 0.00 | 0.00 0.00% |
| ROTTERDAM COAL MONTHLY | 96.75 | 98.00 96.15 | 0.05 0.05% |
| USD RBD PALM OLEIN | 1,082.50 | 1,082.50 1,082.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 60.91 | 61.50 60.59 | -0.07 -0.11% |
| SUGAR #11 WORLD | 14.57 | 14.67 14.36 | 0.14 0.97% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|