PKGS’s profits plunge substantially by 89% owing to higher expenses

2018

2017

% change

Net sales

 52,922,723

 31,679,743

67.0554%

Cost of sales

 (46,183,738)

 (25,852,219)

78.6452%

Gross profit

 6,738,985

 5,827,524

15.6406%

Administrative expenses

 (2,267,348)

 (1,715,650)

32.1568%

Distribution and marketing costs

 (2,423,374)

 (1,480,314)

63.7068%

Other expenses

 (774,776)

 (588,067)

31.7496%

Other income

 154,353

 246,421

-37.3621%

Profit from operations

 1,427,840

 2,289,914

-37.6466%

Finance cost

 (2,268,319)

 (1,175,701)

92.9333%

Investment income

 2,491,996

 5,972,121

-58.2728%

Gains and losses relating to business combinations

 -

 4,965,355

Share of pofit/(loss) of investment accounted for under equity method- net of tax

 76,002

 206,530

-63.2005%

Profit before taxation

 1,727,519

 12,258,219

-85.9073%

Taxation

 (567,341)

 (1,458,435)

-61.0993%

Profit for the period

 1,160,178

 10,799,784

-89.2574%

Basic and diluted earnings per share (Rupees)

 10.35

 118.91

-91.2959%