RafhanMaize reports 10% improvement in bottom-line earnings
By MG News | August 19, 2019 at 12:28 PM GMT+05:00
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% |
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