Profit after tax of Rafhan Maize company increases to Rs 2.033 billion

The profit after tax of Rafhan Maize Products Company has increased to Rs 2.033 billion in the year ended December 31, 2011 as compared to Rs 1.837 billion earned in the corresponding period in 2010. The company's earning per share increased to Rs 220.20 in the period under review against Rs 198.99 in the same period a year back.
The board of directors of the company in its meeting held on February 14, 2012 at London recommended a final cash dividend for the year at Rs 65 per share, ie 650 percent. This is in addition to two interim dividends already paid at Rs 35 and Rs 25 per share each.
According to the financial results sent to Karachi Stock Exchange, the company's net sales increased to Rs 18.270 billion in 2011 against Rs 13.912 billion in 2010. The cost of sales increased to Rs 14.471 billion against Rs 10.615 billion. The company's profit before taxation increased to Rs 3.216 billion in 2011 against Rs 2.799 billion in 2010.