SEARLE reports net profit growth of 12.5% YoY in FY20

September 29, 2020 (MLN): Searle Company  Limited witnessed a 12.5% YoY increase in net profits for FY20 to Rs 2.548 billion compared to the profits of Rs 2.265 billion reported in FY19.

 The earnings per share of the company also exhibited an increase of 12% YoY to Rs 11.77 as opposed to Rs 10.55 last year.

Other than this, the Board of Directors of SEARLE announced a final cash dividend for the year ended June 30, 2020, of Rs 2.50 per share i.e. 25%.

In FY20, the company’s net turnover increased from Rs 18 billion to Rs 20 billion, depicting a growth of 13.36% YoY, while its cost of goods sold also showed a growth of 14% YoY, accordingly, the gross profit margin of the company decreased marginally from 48% to 47%.

On the cost side, the distribution costs went up by 3.09% YoY from Rs 4.28 billion to Rs 4.41 billion. Moreover, administrative costs rose by 8% to Rs 1.18 billion.

Meanwhile, the major highlight is the upsurge in other income which showed more than two-fold growth to Rs 505 million.

However, it was the rise in finance cost and tax expenses which ballooned by 56% and 95%, YoY respectively which restricted the growth in the company’s net profits.

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