Engro Foods’ profit after tax rises to Rs1,017.674mn

RECORDER REPORT

KARACHI: The profit after tax of Engro Foods Limited has increased to Rs 1,017.674 million in the half year period ended June 30, 2012 as compared to Rs 216.442 million earned in the corresponding period in 2011.

The board of directors of the company declared that the company’s earning per share (basic) has increased to Rs 1.35 in the period under review against Re 0.30 in the same period a year back.

According to the financial results sent to Karachi Stock Exchange (KSE) on Tuesday, the company’s net sales increased to Rs 19.765 billion in the half year period this year against Rs 13.443 billion in the same period last year. The cost of sales increased to Rs 14.922 billion against Rs 10.621 billion.

The company’s marketing and distribution expenses increased to Rs 2.464 billion against Rs 1.701 billion.

The company’s profit before taxation increased to Rs 1,535.889 million in the half year period this year against Rs 331.75 million in the same period last year.

On quarterly basis, the company’s profit after tax increased to Rs 531.775 million translating into earning per share of Re 0.71 in the quarter ended June 30, as compared to after tax profit of Rs 99.182 million with per share earning of Re 0.14 in the same quarter last year.