Sazgar Engineering witnesses a 30% rise in bottom-line profits

MG News | September 24, 2018 at 04:17 PM GMT+05:00

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September 24, 2018 (MLN): Sazgar Engineering Works Limited (SAZEW) has reported a 30% rise in its bottom-line profits for the year ended June 30^th 2018, as the profits climbed from Rs.142.8 million to Rs.186 million, based on a year-on-year comparison.

The company’s Board of Directors meeting took place earlier today, and a report containing details of the earnings for the year was issued to PSX.

In line with the contents of the report, the company’s net sales observed an almost 10% hike while the gross profits increased by 17%.

Although operating expenses for the year rose by 12%, Sazgar’s operating profits maintained momentum and escalated by 26%, YoY.

The company’s earnings per share have grown by 30% as well, up from Rs.6.62 per share to Rs.8.62 per share, YoY.

Financial Results for the Year Ended June 30th 2018 (Rupees)
	Jun-18	Jun-17	% Change
Sales - net	3,968,217,110	3,618,144,493	9.68%
Cost of sales	3,523,304,219	3,238,663,489	8.79%
Gross profit	444,912,891	379,481,004	17.24%
Distribution cost	95,040,742	83,912,593	13.26%
Administrative expenses	74,670,096	65,884,066	13.34%
Other operating expenses	27,208,282	26,703,862	1.89%
	196,919,120	176,500,521	11.57%
	247,993,771	202,980,483	22.18%
Other income	11,580,630	2,922,832	296.21%
Operating profit before finance cost	259,574,401	205,903,315	26.07%
Finance cost	4,895,759	1,789,570	173.57%
Profit before taxation	254,678,642	204,113,745	24.77%
Taxation	68,673,624	61,291,804	12.04%
Profit after taxation	186,005,018	142,821,941	30.24%
Earnings per share - basic and diluted	8.62	6.62	30.21%

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