Packages Limited posts Rs272.443mn profit after tax

RECORDER REPORT

KARACHI: Packages Limited has posted Rs. 272.443 million as profit after tax in the half year period ended June 30, 2012 as compared to after tax loss of Rs. 208.955 million recorded in the corresponding period in 2011.

The board of directors of the company in its meeting held on August 25, 2012 declared the company’s earning per share at Rs. 3.23 for the period under review against per share loss of Rs 2.48 in the same period last year.

According to the financial results sent to Karachi Stock Exchange on Monday and company’s local sales increased to Rs. 11.886 billion in the first half of 2012 against Rs. 11.860 billion in the same period in 2011 and export sales reduced to 42.939 million against Rs. 130.644 million.

The company’s net sales after paying sales tax, excise duty and commission stood at Rs. 10.132 billion against Rs. 9.936 billion. The cost of sales increased to Rs. 9.630 billion against Rs. 9.507 billion.

The company posted Rs. 280.855 million as profit before taxation in the first half of 2012 against loss before taxation of Rs. 16.741 million recorded in the same period in 2011.

On quarterly basis, the company posted Rs. 74.606 million as profit after tax translating earning per share of Re 0.88 in the quarter ended June 30, 2012 as compared to after tax loss of Rs. 335.232 million with per share loss of Rs. 3.97 in the same quarter in 2011.