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)|
|Turnover – net||7,654,337||4,185,515||82.88%|
|Cost of sales||4,163,808||2,843,416||46.44%|
|Distribution and marketing expenses||1,682,379||1,160,981||44.91%|
|Finance cost and bank charges||9,299||65,071||-85.71%|
|(Loss)/profit before taxation||1,000,518||(477,796)|
|(Loss)/profit after taxation||724,140||(463,450)|
|(Loss)/earnings per share – basic and diluted (Rupees)||4.62||(7.53)|