Noon Pakistan yearly profits surged by 52.28pct in FY11
KARACHI: Noon Pakistan Limited (NOPK) profits for the year surged by 52.28 percent year on year (YoY) to Rs 41.551 million in the financial year 2011 (FY11) as compared to Rs 27.285 million reported in the previous year.
The company's board of management in their meeting held on Thursday announced financial results for the year ended June 30, 2011.
Earnings per share of the company also turned up to Rs 3.28 per share during 2011 as against Rs 2.15 in the previous year.
The company's sales for the year increased by 21.38 percent YoY to Rs 2,957.377 million as against Rs 2,436.415 million in the corresponding year.
Furthermore, board has given 10 percent bonus shares to its shareholders 10 shares for every 100 shares held while it did not allow any cash dividend.
The cost of sales of the company went up by 19.35 percent YoY to Rs 2,590.444 million while company's gross profits surged by 37.99 percent YoY to Rs 366.932 million during the period as compared to Rs 265.917 million in the FY10.
Financials show 20.50 percent YoY increased in administrative expenses therefore it reached to Rs 67.008 million while distribution cost jumped by 43.84 percent YoY to Rs 192.671 million.
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