Pakistan Suzuki Motor Company (PSMC) today announced financial results for the year ending December 2017. Company’s turnover crossed the 100 billion mark during the year 2017 when total sales clocked in at Rs. 101 billion up by 33 percent during the year.
The company reported a 33.24 percent jump in cost of sales, with gross margins jumping from Rs. 7.348 billion to Rs. 9.652 billion.
The Japanese automakers’ Distribution Costs increased by more than 40 percent during the period, which cost the company a total sum of Rs. 2.804 billion. Furthermore, company’s finance costs went down by more than 29 percent during the period.
The Suzuki Motor Company reported a net profit for year at 3.825 billion during the period, up by 38 percent from 2016’s Rupees 2.772 billion.
The company’s earnings per share clocked in at 46.49 per share against 33.69 per share in 2016. In addition to that, the company also declared a final cash dividend of Rupees 18.6 per share i.e. 186 percent.
| Unconsolidated Profit and Loss Account – For the Year Ended, December 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Turnover | 101,811,611 | 76,516,040 | 33.06% |
| Cost of Sales | 92,159,038 | 69,167,463 | 33.24% |
| Gross Profit | 9,652,573 | 7,348,577 | 31.35% |
| Distribution Cost | 2,804,256 | 2,004,285 | 39.91% |
| Administrative Expenses | 1,599,815 | 1,539,590 | 3.91% |
| Finance Cost | 68,088 | 95,775 | -28.91% |
| Other Operating Income | 864,711 | 1,039,851 | -16.84% |
| Profit from Operations | 5,631,128 | 4,415,236 | 27.54% |
| Sahre of loss from Associated Company | (11,914) | – | |
| Profit before Taxation | 5,619,214 | 4,415,236 | 27.27% |
| Taxation | 1,793,393 | 1,642,601 | 9.18% |
| Net Profit for Year | 3,825,821 | 2,772,635 | 37.99% |
| Profit available for appropriation | 3,827,786 | 2,774,614 | 37.96% |
| EPS – Basic | 46.49 | 33.69 | 37.99% |
Company release on Earnings Report can be accessed here.
