August 24, 2020 (MLN): Rafhan Maize Company Products Limited has declared its financial results for the half-year ended June 30, 2020, according to which, the company has earned profits of Rs. 2.51 billion (EPS: 272.48), i.e. 7.2% higher than the earnings recorded in the same period of last year.
The company also announced an Interim Cash Dividend for the half-year and quarter ended June 30, 2020, at Rs. 150 per share i.e. 1500%.
The major highlights from the financial report show a 10% increase in the gross profits, mainly owing to a decline in the cost of sales of the company by 4.1%.
Furthermore, there was a 25.2% increase in the distribution expenses and a 3.2% increase in administrative expenses. On top of that, the non-core expenses grew by 15.6% whereas other income showed a mere growth of 1.2%.
Similarly, the finance costs increased by 20.2% while the income tax expense surged by 11.2%.
Financial Results for the half-year ended June 30, 2020 (Rupees'000) | |||
|---|---|---|---|
Jun-20 | Jun-19 | % Change | |
Sales | 17,124,720 | 17,316,721 | -1.1% |
Cost of sales | (13,014,008) | (13,576,714) | -4.1% |
Gross Profit | 4,110,712 | 3,740,007 | 9.9% |
Distribution expenses | (302,668) | (241,839) | 25.2% |
Administrative expenses | (294,974) | (285,694) | 3.2% |
Other expenses | (261,020) | (225,732) | 15.6% |
Other income | 227,413 | 224,778 | 1.2% |
Finance cost | (12,321) | (10,248) | 20.2% |
Profit before taxation | 3,467,142 | 3,201,272 | 8.3% |
Taxation | (950,358) | (854,501) | 11.2% |
Profit after taxation | 2,516,784 | 2,346,771 | 7.2% |
Earnings per share | 272.48 | 254.08 | 7.2% |
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