2013 Pakistan Tobacco profits 202 percent higher than 2012
The Pakistan Tobacco Company has announced its results for the quarter ended March 31, 2013, recording stellar earnings of Rs1.09 billion as compared to only Rs359 million earned in the same period of the preceding year (translating into 202 percent growth). The company has also announced an interim dividend of Rs2 per share alongside the results, according to a story in the The International Herald Tribune.
The company’s net sales for the period improved nearly 28 percent over the same period of the previous year, and it recorded a 45 percent higher gross profit at Rs2.72 billion. Meanwhile, its selling and distribution expenses dropped 33 percent over the previous year to Rs597.49 million, while administrative expenses remained more or less flattish at Rs331.72 million. At the same time, its operating expenses grew 17 percent to Rs136.53 million, while operating income also registered a rise of 144 percent to Rs20.99 million. All these factors meant the company retained more of its gross profits than the previous year, as its net finance costs also registered a drop of an impressive 96 percent to Rs1.66 million.
The company paid a total of Rs15.26 billion in excise, sales and income taxes for the period.
