Sapphire Fibres Ltd. sales rises 16% to Rs. 14 Billion
MG News | September 28, 2017 at 03:58 PM GMT+05:00
- Sapphire Fibres Limited sales for the period increased by rise for
- The company’s cost of sales for the period increased by 18.5 % out doing the Sales increase
- Despite increased sales, Gross Profit decreased by 11% due to a higher cost of Sales incurred during the period
The company’s profits were comparatively lower than the corresponding period last year, with a decrease of more than 19% in profits amounting to 1.10 billion at the year end. The company had to pay hefty taxes of 260 million during the period a net increase of 160%.
Comparison of Key Financials
| Unconsolidated Profit and Loss Account - For the Year Ended | |||
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR | |||
| Sales | 14,465,758,945 | 12,478,390,364 | 15.93% |
| Cost of Sales | 13,491,724,210 | 11,388,671,684 | 18.47% |
| Gross Profit | 974,034,735 | 1,089,718,680 | -10.62% |
| Dist: Cost | 463,270,990 | 379,138,764 | 22.19% |
| Admin: Expenses | 302,998,941 | 269,453,034 | 12.45% |
| Other Income | 1,855,690,252 | 1,633,722,398 | 13.59% |
| Other Expenses | 127,521,211 | 148,411,522 | -14.08% |
| Profit from Operations | 1,935,933,845 | 1,926,437,758 | 0.49% |
| Finance Cost | 536,736,909 | 424,439,095 | 26.46% |
| Profit before Taxation | 1,399,196,936 | 1,501,998,663 | -6.84% |
| Taxation | 260,122,474 | 100,268,380 | 159.43% |
| PAT | 1,139,074,462 | 1,401,730,283 | -18.74% |
| EPS - Basic and Diluted | 57.86 | 71.20 | -18.74% |
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