Gul Ahmed’s earnings jump 320% to Rs1.32b

Three fold increase in profits seen

KARACHI: Gul Ahmed’s nine-month financial results for the period ended March 31 2018 revealed a three-fold increase in profit to Rs1.315 billion from Rs313 million in the same period last year.

“Government’s export package has helped the company record higher sales - both domestically and internationally. Higher revenue helped increase the profitability,” said AVP research of Pak-Kuwait Investment Company Adnan Sami Sheikh.

Last year, the government announced a package of Rs180 billion for export-oriented industries including textiles. However, the exporters are not happy because of the delay in payments of sales tax refunds.

The company announced an EPS of Rs3.69 from Rs0.97 last year. Sales increased to Rs33.2 billion in the nine-month period of 2017-2018, an increase of 13.65% from Rs29.23 billion in the previous year.

Published in The Express Tribune, May 1^st, 2018.

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