Pak Elektron Limited today reported financial statements for the year ending December, 2017. The company reported a 15.52 percent increase in net revenue increasing gross profits by 17.97 percent.
PAEL’s Total revenue during the outgoing year clocked in at 42.346 billion rupees, with a total sales tax and discount of 11.346 billion. Furthermore, the company during the year improved gross margins by 18 percent which clocked in at 21.883 billion.
Company’s Other Income took a slide downward by more than 52 percent during the period under review, however, distribution costs went up by 64.84 percent
Profit after taxation for the period declined by more than 9.86 percent during the year, with total profit clocking in at 3.308 billion resulting in the earnings per share of 6.56 rupees per share.
In addition to that, the company also declared a final cash dividend for the year ended December 31st, 2017at Rs. 01.20 per share i.e. 12 percent. This is in addition to interim dividend already paid at the Rs. 1.50 per share i.e. 15.00 percent.
Unconsolidated Profit and Loss Account – For the Year Ended, December 30th 2017 | |||
---|---|---|---|
Key Financials | 2017 | 2016 | % Change |
Amounts in PKR ‘000 | |||
Revenue | 42,346,753 | 34,123,972 | 24.10% |
Sales Tax and Discount | 11,346,711 | 7,289,655 | 55.65% |
Revenue – Net | 31,000,042 | 26,834,317 | 15.52% |
Cost of Sales | 21,883,842 | 18,550,387 | 17.97% |
Gross Profit | 9,116,200 | 8,283,930 | 10.05% |
Other Income | 17,793 | 37,311 | -52.31% |
Distribution Cost | 2,683,532 | 1,627,796 | 64.86% |
Administrative and General Expenses | 1,118,844 | 884,095 | 26.55% |
Other Expenses | 176,194 | 193,714 | -9.04% |
Operating Profit | 5,155,423 | 5,615,636 | -8.20% |
Finance Costs | 1,546,604 | 1,496,503 | 3.35% |
Share of (Loss)/Profit of associate | 5,354 | 309 | |
Profit before Taxation | 3,603,465 | 4,119,442 | -12.53% |
Taxation | 295,211 | 449,502 | -34.32% |
Other Comprehensive Income | – | – | |
Total Comprehensive Income | 3,308,254 | 3,669,940 | -9.86% |
EPS – Basic and diluted | 6.56 | 7.51 | -12.65% |
Company release on Earnings Report can be accessed here.