Packages Limited posts profits worth Rs. 6.216 billion

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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, 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.

Comparison of Key Financials

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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