Karachi: We have to inform you that the Board of Directors in their meeting held on 15th August, 2011at 11.30 a.m. at Company Head Office, decided to declare no interim dividend for the first half year ended 30th June, 2011. The decision was taken keeping in view the Cigarette market which has been declining for some time as result of the excise led prices. These increases have impacted the profitability of the legitimate industry including PTC.
The financial results of the Company are as follows:
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Rs ’000’ |
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|
Quarter ended |
Half Year ended |
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| June 30, 2011 | June 30, 2010 | June 30, 2011 | June 30, 2010 | ||
| Gross turnover | 17,383,562 | 15,831,690 | 33,838,201 | 31,584,792 | |
| Excise duties | (9,013,073) | (7,884,219) | (17,499,618) | (15,644,711) | |
| Sales tax | (2,589,565) | (2,254,363) | (5,046,637) | (4,487,654) | |
| ———- | ———- | ———- | ———- | ||
| 5,780,924 | 5,693,108 | 11,291,946 | 11,452,427 | ||
| ———- | ———- | ———- | ———- | ||
| Cost of sales | (4,329,348) | (3,887,427) | (8,421,055) | (7,633,126) | |
| ———- | ———- | ———- | ———- | ||
| Gross profit | 1,451,576 | 1,805,681 | 2,870,891 | 3,819,301 | |
| Selling and distribution | |||||
| Expenses | (706,543) | (668,656) | (1,211,283) | (1, 228,190) | |
| Administrative expenses | (381,420) | (319,428) | (685,384) | (615,327) | |
| Other operating expenses | (37,838) | (65,836) | (83,514) | (155,083) | |
| Other operating income | 16,838 | 17,592 | 18,022 | 22,574 | |
| ———- | ———- | ———- | ———- | ||
| (1,108,963) | (1,036,328) | (1,962,159) | (1,976,026) | ||
| ———- | ———- | ———- | ———- | ||
| Operating profit | 342,613 | 769,353 | 908,732 | 1,843,275 | |
| Finance income | 29,780 | 30,954 | 32,010 | 33,586 | |
| Finance cost | (17,056) | (12,755) | (61,686) | (46,794) | |
| ———- | ———- | ———- | ———- | ||
| Net finance income/ (cost) | 12,724 | 18,199 | (29,676) | (13,208) | |
| ———- | ———- | ———- | ———- | ||
| Profit before income tax | 355,337 | 787,552 | 879,056 | 1,830,067 | |
| Income tax expense – Current | (149,019) | (230,354) | (365,990) | (616,103) | |
| – Deferred | 28,433 | (42,155) | 65,216 | (17,420) | |
| ———- | ———- | ——— | ———- | ||
| (120,586) | (272,509) | (300,774) | (633,523) | ||
| ———- | ———- | ———- | ———- | ||
| Profit for the period | 234,751 | 515,043 | 578,282 | 1,196,544 | |
| ———- | ———- | ———- | ———- | ||
| Earnings per share (Rupees) | 0.92 | 2.01 | 2.26 | 4.68 | |
For more information, contact:
Ayesha Rafique
Company Secretary and Regulatory Counsel
Pakistan Tobacco Company Limited
Silver Square, Plot No. 15,
F-11, Markaz, Islamabad
Tel: + 92 (51) 2083200-01
Fax: + 92 (51) 2224215-16