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Nishat Mills Ltd’s profits improve by 18% for 1HFY19

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February 26, 2019 (MLN): Nishat Mills Limited has affirmed its bottom-line earnings for the cumulative period ended on December 31, 2018, at Rs. 3.1 billion (EPS: 9) for 1HFY19, depicting a growth of 18% compared to same period last year. The company’s net earnings for 2QFY19 was stated at Rs. 2.09 billion (EPS: 5.97).

The growth in earnings was mainly led by improvement in sales revenue, which helped in pulling up gross margins by 46%.

In spite of increase in operating costs, i.e. Distribution and Administrative expenses by 18% and 5% respectively, the company still managed to perform fairly during the said period.

Profit and loss account for the six months ended December 31 2018 (Rupees'000)

 

Dec-18

Dec-17

% Change

Revenue

30,714,488

25,520,079

20.35%

Cost of sales

-26,953,169

-22,943,348

17.48%

Gross profit

3,761,319

2,576,731

45.97%

Distribution cost

-1,368,198

-1,163,973

17.55%

Administrative expenses

-555,062

-530,211

4.69%

Other expenses

-180,071

-135,642

32.75%

Other income

2,638,545

2,744,785

-3.87%

Profit from operations

4,296,533

3,491,690

23.05%

Finance cost

-656,968

-450,526

45.82%

Profit before taxation

3,639,565

3,041,164

19.68%

Taxation

-476,000

-373,000

27.61%

Profit after taxation

3,163,565

2,668,164

18.57%

Earnings per share -Basic and diluted

9.00

7.59

18.58%

 

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Posted on: 2019-02-26T16:12:00+05:00

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