Philip Morris (Pakistan) Limited’s financial results for the period ended June 30, 2011

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:

 

Quarter ended

Six months period ended

June 30,

June 30,

June30,

June30,

2011

2010

2011

2010

(Rupees in `000)

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
 ———-  ———- ———-  ———-

Rupees

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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