Symmetry Group reports 36% surge in 1HFY25 profit, reaching Rs103mn

February 27, 2025 (MLN): Symmetry Group Limited (PSX: SYM) reported a 36% increase in profit after taxation for the half-year ended December 31, 2024, reaching Rs103 million compared to Rs76 million in the same period of 2023.

The company's earnings per share (EPS) stood at Rs0.36, up from Rs0.27 in the same period last year.

The strong financial performance was driven by robust revenue growth and operational efficiency.

The company’s net revenue soared by 62%, reaching Rs386.6mn from Rs238mn in the same period last year.

The substantial increase in revenue was accompanied by a rise in the cost of services, which nearly doubled to Rs180.3mn, reflecting a 98% increase from Rs91mn in 2023.

Despite the higher costs, Symmetry Group Limited achieved a 40% growth in gross profit, amounting to Rs206mn.

Administrative and selling expenses also saw an increase of 22%, reaching Rs76mn compared to Rs62mn in 2023.

However, the company’s operating profit experienced a notable boost, climbing 53.4% to Rs130mn from Rs85mn in the previous year.

On the other hand, finance costs rose sharply by 146% to Rs20.7mn from Rs8.4mn in 2023, affecting the overall profitability.

Additionally, other income registered a decline of 17%, totaling Rs7.6mn compared to Rs9mn last year.

Despite these factors, Symmetry Group Limited reported a 36% rise in profit before taxation, reaching Rs116.6mn.

Taxation expenses increased by 39.4% to Rs13.4mn from Rs9.6mn, leading to a net profit after taxation of Rs103mn.