Packages Limited posts profits worth Rs. 6.216 billion
MG News | February 28, 2018 at 03:23 PM GMT+05:00
Packages Limited today released financial statements for the year ending December, 31st 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.
| Unconsolidated Profit and Loss Account - For the Year Ended, December 30th 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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