PACE Pakistan reports Q1 losses of Rs. 33.93 million
MG News | October 26, 2017 at 01:24 PM GMT+05:00
- PACE Pakistan sales for the period decreased by 19.46%, amounting to a total of 78 million Rupees during three months ended September, 30th 2017
- Company’s Gross Profit increased by 42.56% owing to a substantial decline of 31% in cost of sales
- The company suffered losses worth 33.93 million against last year’s profit of 131 million
- The company’s earnings per share – basic reached -0.12 rupees in the last three months vs 0.47 in same quarter during 2016
| Unconsolidated Profit and Loss Account - For the Three Months Ended, September 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR’ 000 | |||
| Sales | 78,301 | 97,226 | -19.46% |
| Cost of Sales | 56,072 | 81,633 | -31.31% |
| Gross Profit | 22,229 | 15,593 | 42.56% |
| Admin and Selling Expenses | 27,064 | 32,385 | -16.43% |
| Other Income | 7,242 | 207,797 | -96.51% |
| Other operating expenses | 7,533 | 829 | 808.69% |
| Profit/(Loss) from operations | (5,126) | 190,176 |
|
| Finance costs | 27,833 | 31,856 | -12.63% |
| Profit/(Loss) before Tax | (32,959) | 158,320 |
|
| Taxation | 979 | 26,914 | -96.36% |
| Profit/(Loss) for the year | (33,938) | 131,406 |
|
| Total Comprehensive Income/(loss) for the year | (34,018) | 131,626 |
|
| basic earnings/(loss) per share | (0.12) | 0.47 |
|
| diluted earnings/(loss) per share | (0.12) | 0.35 |
|
Company release on Earnings Report can be accessed here.
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