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.
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
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.
