Nestle’s profit after tax up Rs2.911bn

RECORDER REPORT

KARACHI: The profit after tax of Nestle Pakistan Limited has increased to Rs 2.911 billion in the half year period ended June 30, 2012 as compared to Rs 2.63 billion earned in the corresponding period in 2011.

The board of directors of the company in its meeting held on Tuesday declared that the company’s earning per share has increased to Rs 64.19 in the period under review against Rs 58.01 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the company’s net sales increased to Rs 41.179 billion in the first half of 2012 against Rs 32.941 billion in the same period last year. The cost of goods sold increased to Rs 29.862 billion against Rs 24.035 billion.

The company’s profit before taxation increased to Rs 3.982 billion in the first half of 2012 against Rs 3.67 billion in the same period in 2011.

On quarterly basis, the company’s profit after tax has increased to Rs 1.246 billion translating earning per share of Rs 27.48 in the quarter ended June 30, 2012 as compared to after tax profit of Rs 1.137 billion with per share earning of Rs 25.08 in the same quarter in 2011.