During HY 2003-04, the half year under review, the company posted net sales at Rs 347.03 million which were 4.25% higher than the figure of corresponding period last year due to higher sales achieved in the blades and razors segment.
Gross profit for the period at Rs 134 million was on the lower side when compared with Rs 136 million of SPLY as a result of an increase in the import prices.
Operating profit at Rs 72.44 million reflects a significant rise over Rs 43.63 million pertaining to the corresponding period last year. This is a result of lesser spending in sales promotion and advertising. During the period the company launched Mach 3 Turbo, the advance shaving system which attracted positive response from both customer and trade.
The company believes that it will play a vital role in further consolidating its position in the blades and razors segment. During the period the company further enhanced the role of distribution in order to operate more effectively and focus on maximising the growth of business.
This has resulted in transfer of field sales supervisory staff to the distributor from the company. The company's net profit after taxation amounted to Rs 52.59 million showing 45% increase.
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Performance Statistics (Million Rupees)
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Balance sheet -As At-
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June 30 December 31
2004 2003
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Share Capital-Paid-Up: 192.00 192.00
Unappropriated Profit: 99.06 46.47
Shareholders Equity: 291.06 238.47
Deferred Tax Liability: 0.81 1.32
Current Liabilities: 91.33 142.87
Fixed Assets: 15.84 21.08
L T Loans: 1.07 1.72
L T Deposits: 0.60 0.60
Current Assets: 365.69 359.26
Total Assets: 383.20 382.66
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Profit & Loss A/c For the
Half Year Ended June 30 2004 2003
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Sales - Net: 347.03 332.87
Gross Profit: 135.62 136.20
Operating Profit; 72.44 54.63
Other Income: 5.61 5.49
Financial (Charges): (0.06) (0.07)
Profit Before Taxation: 76.41 60.04
Profit After Taxation: 52.59 36.31
Earnings Per Share (Rs): 2.74 1.89
Share Price (Rs) On 26/11/2004: 62.50 -
Price/Earning Ratio: 22.81 -
Book value Of Share (Rs: 15.16 12.42
Debt/Equity Ratio: 0:100 0:100
Current Ratio: 4.00 2.51
Gross Profit Margin (%): 39.08 4.92
Net Profit Margin (%): 15.15 10.90
R O A (%): 13.72 10.91
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COMPANY INFORMATION: Chairman: Sanaullah Qureshi; Chief Executive: Mohammad Azhar Aqil; Company Secretary: Saeed Akram; Registered Office: 2nd Floor, Imperial Court Building Dr Ziauddin Ahmed Road, Karachi; Web Address: Not Reported.