Philip Morris reports a half year profit of Rs 724.14 million

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-18Jun-17% Change
Turnover –  net 7,654,337 4,185,51582.88%
Cost of sales 4,163,808 2,843,41646.44%
Gross profit 3,490,529 1,342,099160.08%
Distribution and marketing expenses 1,682,379 1,160,98144.91%
Administrative expenses 658,600 614,5637.17%
Other expenses 251,254 35,094615.95%
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) 4.62 (7.53) 
Posted on: 2018-08-16T15:33:00+05:00

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