Philip Morris’s profitability increases substantially due to relatively slower expense growth

MG News | March 07, 2019 at 04:12 PM GMT+05:00

0:00

March 7, 2019 (MLN): Philip Morris Pakistan Limited (PMPK) has reported its net profit at Rs. 543 million for the year ended December 2018, which increased substantially by 184. 36% as compared to last year’s profit. This increase in profit is attributable to relatively slower rise in expenses compared to company’s inflows.

During the period, company’s other expenses rose by 73% which were dominated by 74% decline in finance cost, 59% increase in company’s other income and 74% decline in taxes.

The company reported its earnings per share at Rs.1.68 for the said period.

Financial Results for the year ended December 31, 2018 ('000 Rupees)
	Dec-18	Dec-17	% Change
Turnover - net	16,199,912	13,966,525	15.99%
Cost of sales	10,175,924	8,888,275	14.49%
Gross profit	6,023,988	5,078,250	18.62%
Distribution and marketing expenses	3,570,578	2,926,658	22.00%
Administrative expenses	1,389,471	1,355,237	2.53%
Other expenses	686,981	396,448	73.28%
Other income	263,044	165,210	59.22%
Operating profit	640,002	565,117	13.25%
Finance cost and bank charges	23,094	88,802	-73.99%
Profit before taxation	616,908	476,315	29.52%
Taxation	73,757	285,307	-74.15%
Profit after taxation	543,151	191,008	184.36%
Earnings per share - basic and diluted (Rupees)	1.68	(1.89)*

*After adjustment of preferance dividend.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	153,866.17 113.04M	-0.36% -555.27
ALLSHR	92,322.41 289.91M	-0.18% -165.37
KSE30	47,054.02 67.50M	-0.57% -268.71
KMI30	220,139.18 52.42M	-0.81% -1787.82
KMIALLSHR	59,630.44 114.87M	-0.43% -258.98
BKTi	44,089.65 23.49M	-0.09% -38.05
OGTi	31,668.31 6.28M	-0.15% -47.11

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	71,495.00	74,210.00 70,200.00	850.00 1.20%
BRENT CRUDE	103.89	103.95 97.60	3.43 3.41%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-12.90 -11.49%
ROTTERDAM COAL MONTHLY	122.70	123.80 122.70	-1.10 -0.89%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	99.31	99.32 92.04	3.58 3.74%
SUGAR #11 WORLD	14.41	14.53 14.30	0.03 0.21%