Philip Morris (Pakistan) Limited’s financial results for the period ended June 30, 2011
Karachi: We have to inform you that the Board of Directors of the Company in their meeting held at 2.30 p.m. yesterday considered and approved the un-audited financial statements of the Company for the period ended June 30, 2011 and recommended the following:
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Quarter ended |
Six months period ended |
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June 30, |
June 30, |
June30, |
June30, |
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2011 |
2010 |
2011 |
2010 |
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(Rupees in `000) |
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| Gross turnover | 9,059,775 | 8,946,589 | 17,303,028 | 17,421,045 |
| ———- | ———- | ———- | ———- | |
| Less: Sales tax | 1,340,770 | 1,257,581 | 2,471,847 | 2,462,424 |
| Excise duty | 4,395,025 | 3,958,550 | 8,069,213 | 7,688,405 |
| ———- | ———- | ———- | ———- | |
| 5,735,795 | 5,216,131 | 10,541,060 | 10,150,829 | |
| ———- | ———- | ———- | ———- | |
| Turnover – net of sales tax and excise duty | 3,323,980 | 3,730,458 | 6,761,968 | 7,270,216 |
| Cost of sales | 2,492,134 | 2,354,607 | 5,176,408 | 4,498,157 |
| ———- | ———- | ———- | ———- | |
| Gross profit | 831,846 | 1,375,851 | 1,585,560 | 2,772,059 |
| – | ——— | ———- | ———- | ———- |
| Distribution and marketing expenses | 539,418 | 735,900 | 1,092,774 | 1,360,149 |
| Administrative and marketing expenses | 287,154 | 198,091 | 482,523 | 385,240 |
| ———- | ———- | ———- | ———- | |
| 826,572 | 933,991 | 1,575,297 | 1,745,389 | |
| ———- | ———- | ———- | ———- | |
| Operating profit | 5,274 | 441,860 | 10,263 | 1,026,670 |
| Other expenses | 5,714 | 37,671 | 11,442 | 84,321 |
| ———- | ———- | ———- | ———- | |
| (440) | 404,189 | (1,179) | 942,349 | |
| Other income | 8,951 | 43,959 | 23,199 | 72,931 |
| ———- | ———- | ———- | ———- | |
| 8,511 | 448,148 | 22,020 | 1,015,280 | |
| Finance cost | 32,508 | 2,587 | 105,077 | 16,266 |
| ———- | ———- | ———- | ———- | |
| (Loss) / Profit before taxation | (23,997) | 445,561 | (83,037) | 999,014 |
| Taxation | (5,164) | 175,600 | 27,136 | 372,333 |
| ———- | ———- | ———- | ———- | |
| (Loss) / Profit after taxation | (18,833) | 269,961 | (110,193) | 626,681 |
| ———- | ———- | ———- | ———- | |
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Rupees |
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| Earnings per share – basic | (0.31) | 4.38 | (1.79) | 10.18 |
For more information, contact:
Arpad Konye
Chairman and Chief Executive
Philip Morris (Pakistan) Limited
4th Floor, Bahria Complex – III,
M.T. Khan Road, Karachi – 7400,
Pakistan.
Tel: +92 21 3520 9600-01
Fax: +92 21 3563 5391
Web: www.philipmorrispakistan.com.pk
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