The profit after tax of Rafhan Maize Products Company (RMPC) increased to Rs 983.980 million in the six month period ended June 30, 2011, as compared with Rs 952.553 million earned in the corresponding period in 2010. The company's earning per share increased to Rs 106.53 in the period under review as against Rs 103.13 in the same period last year.
The board of directors of the company in its meeting held on Wednesday at London recommended an interim cash dividend for the half year and quarter ended June 30, 2011, at Rs 25 per share, ie, 250 percent. This dividend is in addition to the first dividend already paid at Rs 35 per share, ie, 350 percent.
According to the financial results sent to Karachi Stock Exchange (KSE), the company's net sales increased to Rs 9.529 billion in the half year period this year as against Rs 6.604 billion in the same period last year. The cost of sales increased to Rs 7.699 billion against Rs 4.872 billion.
The company's profit before taxation increased to Rs 1.543 billion in this period as against Rs 1.491 billion in the same period last year. On quarterly basis, the company's profit after tax reduced to Rs 461.711 million translating into earning per share of Rs 49.99 in the quarter ended June 30, 2011, as compared after tax profit of Rs 555.493 million with per share earning of Rs 60.14 posted in the corresponding quarter in 2010.
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