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RafhanMaize reports 10% improvement in bottom-line earnings

August 19, 2019 (MLN): Rafhan Maize Products Company Limited has declared net earnings of Rs. 2.3 billion for the half year ended June 30, 2019, i.e. nearly 10% higher than the figures reported in same period of last year.

The Company reported an Earnings per share figure of Rs. 254.08, which is also 10.04% higher than the EPS in same period last year.

The official document issued by the company revealed that the sales revenue surged by approximately 21%, which is also one of the key performance drivers.

Moreover, non-core income improved by 89%, which further helped in lifting the financial health of the company.

The company also announced an Interim Cash Dividend for the half year and quarter ended June 30, 2019 at Rs. 100 per share i.e. 1000%. This dividend is in addition to first Interim Dividend already paid at Rs. 100 per share i.e. 1000%.                               

Profit and loss account for the half year ended June 30, 2019 (Rupees'000)

 

June 30, 2019

June 30, 2018

% Change

Sales – Net

17,316,721

14,270,581

21.35%

Cost of sales

-13,393,991

-10,579,446

26.60%

Gross profit

3,922,730

3,691,135

6.27%

Distribution expenses

-424,562

-355,245

19.51%

Administrative expenses

-285,694

-228,268

25.16%

Other expenses

-225,732

-207,914

8.57%

Other income

224,778

118,886

89.07%

Operating profit

3,211,520

3,018,594

6.39%

Finance cost

-10,248

-8,143

25.85%

Profit before taxation

3,201,272

3,010,451

6.34%

Taxation

-854,501

-877,815

-2.66%

Profit after taxation

2,346,771

2,132,636

10.04%

Earnings per share-basic and diluted – (Rupees)

254.08

230.89

10.04%

 

Copyright Mettis Link News

Posted on: 2019-08-19T12:28:00+05:00

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