Phillip Morris witnesses remarkable improvement in bottom-line gains

By MG News | October 18, 2018 at 05:14 PM GMT+05:00

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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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