Tax benefits reverse decline in Engro Food's pre-tax profits

Profit and Loss Account for the nine months ended September 30th 2018 ('000 Rupees)

Sep-18

Sep-17

% Change

Net Sales

                     23,942,195

                     27,135,501

-11.77%

Cost of Sales

                  (19,530,401)

                  (22,505,365)

-13.22%

Gross Profit

                       4,411,794

                       4,630,136

-4.72%

Distribution and Marketing Expenses

                     (3,189,068)

                     (3,185,659)

0.11%

Administrative Expenses

                        (655,687)

                        (613,636)

6.85%

Other Operating Expenses

                           (85,086)

                           (73,181)

16.27%

Other Income

                           396,236

                           225,250

75.91%

Operating Profit

                           878,189

                           982,910

-10.65%

Finance Cost

                        (471,184)

                        (391,620)

20.32%

Profit before Taxation

                           407,005

                           591,290

-31.17%

Taxation

                           106,186

                        (205,532)

Profit/ (loss) for the Period

                           513,191

                           385,758

33.03%

Earnings per Share - Basic and Diluted (Rupees)

                                  0.67

                                  0.50

34.00%