Corporate results: Murree Brewery’s earnings clock in at Rs812m

Profit up 35% during nine months of fiscal year 2014-15.

KARACHI: Murree Brewery boosted its profits by more than a third due to a strong performance by the liquor division in the nine-month period that ended on March 31, 2015.

One of the subcontinent’s oldest public listed companies, Murree Brewery posted an after-tax profit of Rs812 million or Rs35 per share during the first nine months of fiscal year (FY) 2015, up 35% compared to Rs605 million or Rs26 per share it earned in the corresponding period of the last fiscal year.

The Rawalpindi-based liquor maker saw its revenues increase by 20% to Rs4 billion in the period under review compared with Rs3.3 billion it grossed in the corresponding period of FY14.

On a quarterly basis, the company reported a net profit of Rs267 million or Rs11.6 per share, up 9% compared to Rs244 million or Rs10.6 per share it earned in the Jan-March quarter of 2014. Its revenues during the quarter clocked in at Rs1.37 billion, up 10% compared to Rs1.25 billion of the same quarter last year.

Being an illiquid stock, Murree Brewery is not covered by market analysts. The financial statement, however, indicates that volumetric growth helped drive the company’s profits.

The company’s stock, however, showed an upward movement during the trading session – though amid low turnover.

Opening at Rs914 per share, the stock reached a high of Rs944 during intra-day trade and finished at Rs902 at close with 3,820 shares changing hands on Friday.

The company specialises in the manufacture of beer and Pakistan-made foreign liquor. The Group also has juice extraction and food manufacturing divisions, located at Rawalpindi and Hattar, respectively. Their glass division manufactures all the Group’s bottles and jars.

Published in The Express Tribune, April 25^th, 2015.

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