Service Industries Limited today released financial results for the year ended December, 31st 2017 reporting an increase of 10.08 percent clocking in at 20.898 billion.
Company’s distribution costs and administrative expenses went up by 33.56 percent and 10.25 percent respectively cumulatively taking away more than Rs. 2.384 billion from the bottom-line profits.
SRVI profit before other income went down by 36.13 percent clocking in at 1.025 billion against 1.706 billion last year, company’s finance costs on the other hand went up by 44 percent during the period under review.
Service Industries reported profit after taxation worth Rs. 896.815 million falling 27.99 percent below 2016’s tally of Rs. 1.245 billion reporting earnings per share of Rs. 74.56 against 103.54 in 2016.
The Board at Services Industries approved a final cash dividend of Rs. 22 per share at the rate of 220 percent.
|
Unconsolidated Profit and Loss Account – For the Year Ended, December 30th 2017 |
|||
|---|---|---|---|
|
Key Financials |
2017 |
2016 |
% Change |
|
Amounts in PKR ‘000 |
|||
|
Net Sales |
20,898,174 |
18,984,428 |
10.08% |
|
Cost of Sales |
17,335,541 |
15,208,729 |
13.98% |
|
Gross Profit |
3,562,633 |
3,775,699 |
-5.64% |
|
Operating Expenses |
|
|
|
|
Distribution costs |
1,300,341 |
973,590 |
33.56% |
|
Administrative Expenses |
1,084,215 |
983,413 |
10.25% |
|
Other Operating Expenses |
152,290 |
212,552 |
-28.35% |
|
Operating Profit before other income |
1,025,787 |
1,606,144 |
-36.13% |
|
Other Income |
357,867 |
99,996 |
257.88% |
|
Operating Profit |
1,383,654 |
1,706,140 |
-18.90% |
|
Finance Costs |
341,885 |
236,845 |
44.35% |
|
Profit before Taxation |
1,041,769 |
1,469,295 |
-29.10% |
|
Taxation |
144,954 |
223,808 |
-35.23% |
|
Profit after Taxation |
896,815 |
1,245,487 |
-27.99% |
|
EPS – Basic and diluted |
74.56 |
103.54 |
-27.99% |
Company release on Earnings Report can be accessed here.
