The profit after tax of Al-Ghazi Tractors Limited has reduced to Rs 1.020 billion in the half year period ended June 30, 2012 as compared to Rs 1.131 billion earned in the corresponding period in 2011. The company’s earning per share has decreased to Rs 23.76 in the period under review against Rs 26.36 in the same period last year.
The board of directors of the company in its meeting held on August 15, 2012 recommended an interim dividend for the half year ended June 30, 2012 at Rs 7.5 per share ie 150 percent. According to the financial results sent to Karachi Stock Exchange, the company’s sales declined to Rs 7.954 billion in the first half of 2012 against Rs 8.203 billion in the same period in 2011. The cost of goods sold reduced to Rs 6.496 billion against Rs 6.614 billion.
The company’s profit before taxation stood at Rs 1.530 billion in the first half of 2012 against Rs 1.687 billion in the same period in 2011. On quarterly basis, the company’s profit after tax increased to Rs 596.029 million translating earning per share at Rs 13.88 in the quarter ended June 30, 2012 as compared to after tax profit of Rs 510.545 million with per share earning of Rs 11.89 in the same quarter in 2011.