Philip Morris Pakistan Limited’s profits for the half year ended 30 June 2018 have increased as the company reported after tax profits amounting to Rs 724.140 million compared to a loss of 463.45 million reported last year on 30 June 2017.
The results were announced following the company’s Board of Directors meeting held on August 16, 2018 at 2 pm.
For the six months period ended on June 30, 2018, the company reported an 82.88% increase in net turnover while the company’s cost of sales increased by 46.44% leading to a massive surge in gross profit of about 160%.
As a result, the company declared an earnings per share of Rs 4.62 for the six months ended in June 2018, compared to a negative EPS of Rs 7.53 a year ago.
Financial Results for the six month period ended June 30th 2018 ('000 Rupees)
Jun-18
Jun-17
% Change
Turnover – net
7,654,337
4,185,515
82.88%
Cost of sales
4,163,808
2,843,416
46.44%
Gross profit
3,490,529
1,342,099
160.08%
Distribution and marketing expenses
1,682,379
1,160,981
44.91%
Administrative expenses
658,600
614,563
7.17%
Other expenses
251,254
35,094
615.95%
Other income
(111,521)
(55,814)
99.81%
Operating (loss)/profit
1,009,817
(412,725)
Finance cost and bank charges
9,299
65,071
-85.71%
(Loss)/profit before taxation
1,000,518
(477,796)
Taxation
276,378
(14,346)
(Loss)/profit after taxation
724,140
(463,450)
(Loss)/earnings per share – basic and diluted (Rupees)
