Packages Limited posts profits worth Rs. 6.216 billion

MG News | February 28, 2018 at 03:23 PM GMT+05:00

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Packages Limited today released financial statements for the year ending December, 31^st 2017. The company reported net sales worth Rupees 18.105 billion whereas reporting a total of 6.216 billion worth of profits for the period.

The company during the period reported a 12.54 percent increase in Administrative Expenses, 22.56 percent increase in Distribution and Marketing Costs, and a 42 percent decrease in Other Income.

The company’s bottom-line profits were bolstered by an additional investment income of Rupees 6.273 billion rupees during the period, which declined by 3 percent from last year’s tally of Rupees 6.472 billion.

Packages Limited Management reported profit after taxation at Rupees 6.216 billion rising by 11.09 percent during the period against last year’s profit of Rupees 5.595 billion.

The management reported earnings per share – diluted of Rupees 65.01 per share against last year’s Rupees 58.5 per share.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Year Ended, December 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR '000
Local Sales	21,358,527	19,766,465	8.05%
Export Sales	30,422	27,064	12.41%
Net Sales	18,105,302	16,839,320	7.52%
Cost of Sales	14,369,523	13,221,323	8.68%
Gross Profit	3,735,779	3,617,997	3.26%
Administrative Expenses	1,009,898	897,392	12.54%
Distribution and Marketing Costs	1,129,438	921,550	22.56%
Other Operating Costs	495,779	392,362	26.36%
Other Income	227,127	390,298	-41.81%
Profit from Operations	1,327,791	1,796,991	-26.11%
Finance Costs	445,495	1,307,505	-65.93%
Investment Income	6,273,905	6,472,005	-3.06%
Profit before Taxation	7,156,201	6,961,491	2.80%
Taxation	939,903	1,365,762	-31.18%
Profit for the year	6,216,298	5,595,729	11.09%
EPS - Basic	69.05	62.61	10.29%
EPS - Diluted	65.02	58.45	11.24%

Company release on Earnings Report can be accessed here.

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