Phillip Morris witnesses remarkable improvement in bottom-line gains

October 18, 2018 (MLN):  Phillip Morris Pakistan’s bottom-line gains for the nine-month period ended September 30, 2018, have demonstrated an outstanding improvement when compared to profits made during the corresponding period of last year.

As per the company’s official financial earnings report, its net turnover recorded a noteworthy growth of 32.5% or Rs.2.7 billion while gross profits rose by Rs.1.6 billion.

Despite increments in overall expenses and taxation, the company still managed to bring about a rise of Rs.802 million in profits.

Phillip Morris further reported its earnings per share at Rs.7.18 per share

Financial Results for the nine months ended on September 30th 2018 ('000 Rupees)

 

Sep-18

Sep-17

% Change

Turnover –  net

                     11,157,186

                       8,419,787

32.51%

Cost of sales

                       6,295,689

                       5,170,706

21.76%

Gross profit

                       4,861,497

                       3,249,081

49.63%

Distribution and marketing expenses

                       2,440,898

                       1,903,658

28.22%

Administrative expenses

                           992,166

                           968,761

2.42%

Other expenses

                           390,178

                             85,203

357.94%

Other (loss)/income

                        (156,044)

                           (99,468)

56.88%

Operating profit

                       1,194,299

                           390,927

205.50%

Finance cost and bank charges

                             15,982

                             82,720

-80.68%

Profit before taxation

                       1,178,317

                           308,207

282.31%

Taxation

                           296,894

                           228,915

29.70%

Profit after taxation

                           881,423

                             79,292

1011.62%

Earnings per share – basic and diluted (Rupees)

                                  7.18

                                  1.29

456.59%

 

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Posted on: 2018-10-18T17:14:00+05:00

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