Net profit of Artistic Denim Millis stands at Rs 377.999 million

RECORDER REPORT

KARACHI: The net profit of Artistic Denim Millis stood at Rs 377.999 million in the year ended on June 30, 2016 as compared to Rs 743.546 million earned in the same period last year. The Board of Directors of the company in its meeting held here recommended a final cash dividend of Rs 2.00 per share for the year, i.e. 20 percent.

According to the financial results, the company's net sales was Rs 6.461 billion in this year against Rs 6.998 billion last year while cost of sales stood at Rs 5.758 billion against Rs 5.820 billion. The company posted Rs 399.842 million as profit before taxation in this year against Rs 761.917 million earned last year. The company's earning per share stood at Rs 4.50 this year against Rs 8.85 last year.