Murree Brewery finds much to cheer about in FY13

Profits rise by 63% in 9MFY13 over previous year.


Zain Siddiqui April 24, 2013
Some of Murree Brewery's alcohol products. PHOTO: murreebrewery.com

KARACHI:


Murree Brewery, Pakistan’s most prominent manufacturer of alcoholic products, has announced its earnings results for the quarter ended March 31, 2013 (3QFY13) and the nine months of the ongoing fiscal year (9MFY13).

The company recorded a profit of Rs175.94 million for the quarter, up an impressive 18% year-on-year (YoY). Its 9MFY13 profit, meanwhile, has registered a staggering 63% increase over the same period of the preceding year. The company has decided not to pay out any dividends with the result.


The company’s stock hit its upper circuit breaker in trading on Wednesday, after the results were made public.

Murree Brewery has the distinction of being one of the oldest public companies of the subcontinent. Its shares were traded on the Calcutta Stock Exchange as early as 1902, and it is now the oldest continuing industrial enterprise in Pakistan. It ranks among the top 25 performing public listed companies at the Karachi Stock Exchange, according to some accounts.

The company does not advertise its products, and is legally prohibited from exporting them. Nonetheless, it is valuable contributor to the economy, having paid nearly Rs314 million in taxes on profits alone so far this fiscal year, apart from the duties and taxes levied on the sale of its products. That figure is 74% higher than the same period of last year.

And while Pakistan forbids the consumption of alcohol by the Muslim-majority population, the company has recorded an impressive 20% increase in its topline so far this year, as compared to the same period of last year, while seeing gross profits grow 37% in 9MFY13 over the previous year. Higher ‘administrative and marketing’ expenses (up 14%) may point to increased marketing activity, ceteris paribus, which would explain the higher profits.

The company’s stock has been doing quite well. It offers investors a one-year return of 297.83%, with stock prices surging from Rs75.68 on April 24, 2012, to close at Rs293.19 on April 24, 2013.

Published in The Express Tribune, April 25th, 2013.

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COMMENTS (32)

p r sharma | 9 years ago | Reply

Is consumption of narcotic drugs like heroin, hashish, cocaine, marijuana etc( which are extremely harmful for the mental ans well as physical health of the people )also prohibited in Islam ?. Is selling of alcohol and drugs to Muslims too a sin in Islam.? can anyone enlighten me on it .?

p r sharma | 9 years ago | Reply

@ashar: "A Muslim is out of the fold of Islam at the time of drinking liquor according to a Hadith. So Muslims do not drink is correct."

The moment some one who drinks automatically ceases to be Muslims. Will he continue to be so or can be taken back in the Muslim faith ? May be after he/ she sincerely repents for it . What about one who drank more than one occasion, or how to know if he did repent or not, and what about those who sell alcohol to Muslims knowing well their identity.?. Incidentally what about those Muslims who consume narcotic drugs like heroin, hashish, marijuana , cocaine etc which are more harmful for the mental as well as physical health of the people. Is consuming& selling drugs too is prohibited ? Any enlightenment on these points for better understanding will be appreciated .

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