Al-Ghazi Tractors has announced a profit after tax of Rs 3.12 billion for the year that ended December 31, 2017, up by 62.5% as compared to Rs 1.92 billion earned in the corresponding period in 2016.
The company’s earnings per share increased to Rs 53.88 in the period under review against Rs 33.24 in the same period last year.
The board of directors of the company, in its meeting held on Monday, recommended an cash dividend for the year at Rs 25 per share i.e. 500 percent. This is in addition to interim dividend already paid at Rs 62.5 per share.
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Al-Ghazi Tractors Doubles Its Profits in a Year
The company’s sales increased to Rs 18.87 billion in this period against Rs 12.09 billion in the same period last year while cost of goods sold increased to Rs 13.61 billion against Rs 8.75 billion.
AMA released its latest data for Jan’18 where Pakistan’s locally assembled cars & LCVs sales volume recorded an impressive increase.
Tractor sales continue to perform well, registering 5,863 units for the month, up by 9% YoY against 5,390 units in the SPLY. Main support to this segment was offered from AGTL, which increased its sales volume by 53%YoY.
At the time of filing this report, AGTL was trading at Rs 683.75, up by 0.73% at the exchange with a turnover of 13,550 shares.
Al-Ghazi Tractors Limited manufactures and sells agricultural tractors, generators, implements, and spare parts primarily in Pakistan and Afghanistan. It has a market valuation of Rs 40.45m with a reported PE ratio of 21.00.
