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

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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 30th 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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Posted on: 2018-09-24T16:17:00+05:00

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