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KARACHI: GlaxoSmithKline Pakistan (GSK) profit-after-tax (PAT) grew by 59.4 per cent to Rs1.69 billion in 2014 Rs1.06bn previous year, it announced on Wednesday.

Earnings per share (eps) rose to Rs5.3 from Rs3.34. The board recommended final cash dividend at Rs5 (50pc) per share. The net sales increased 10.7pc to Rs27.9bn from Rs25.2bn the earlier year, which pushed gross profit higher to Rs7.34bn from Rs6.23bn.

Financial charges decreased to Rs20.4 million from Rs159.2m while taxation rose to Rs1.16bn from Rs747.6m.

Packages Limited: The company announced PAT at Rs2.54bn (eps at Rs29.89)in 2014 ‘from continuing operations’, compared to Rs1.80bn (eps at Rs21.28) last year.

The earlier year had also taken a hit of Rs249m as loss ‘from discontinued operations’. The directors approved final cash dividend for ordinary shareholders at Rs9 (90pc) per share, up over Rs8 (80pc) last year.

For preference shareholders, (IFC) dividend was Rs19 (10pc) per preference share/convertible stocks of Rs190 in terms of the subscription agreement between Packages and IFC. Topline increased to Rs15.1bn for the latest year from Rs14.9bn the earlier year. It included export sales valued at Rs45m against Rs69m YoY.

Published in Dawn February 26th , 2015

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