Rafhan profit after taxation increase

RECORDER REPORT

KARACHI: The profit after taxation of Rafhan Maize Products Company has increased to Rs 986.600 million in the half year period ended June 30, 2012 as compared to Rs 983.980 million earned in the corresponding period in 2011.

The company’s earning per share has surged to Rs 106.82 in the period under review against Rs 106.63 in the same period last year.

The board of directors of the company in its meeting held on July 19, recommended an interim cash dividend for the half year and quarter ended June 30 at Rs 25 per share i.e. 250 percent. This dividend is in addition to first interim dividend already paid at Rs 25 per share i.e. 250 percent.

According to the financial results sent to Karachi Stock Exchange on Friday the company’s net sales slightly declined to 9.470 billion in the half year period in 2012 against Rs 9.529 billion in the same period in 2011. The cost of sales stood at Rs 7.555 billion against Rs 7.699 billion.

The company’s profit before taxation increased to Rs 1.538 billion in the half year period in 2012 as compared to Rs 1.543 billion in the same period in 2011.

On quarterly basis, the company’s profit after taxation increased to Rs 536.106 million translating earning per share of Rs 58.04 in the quarter ended June 30, 2012 against after tax profit of Rs 461.711 million with per share earning of Rs 49.99 in the same quarter in 2011.