Skip to main content

SGF: EBIT increased 84%, PAT declined by 15%.

Service Global Footwear Ltd. (PSX:SGF) - Full Year Financial Results (Dec 2022) 

SGF announced another cash dividend of Rs. 1/- per share for the year ending December 2022, in addition to the Rs. 2.5 per share already distributed as an interim dividend. This is a good payout.

EPS for the year ending December 2022 was Rs. 1.67, declining 15% from last year. 

There was a substantial increase of 67% in sales, and in addition to that, the gross profit margin of the company also increased by 1% over last year. EBIT registered an increase of  84% due to higher other operating income. But the profit before tax could only increase by 20% due to higher financial charges and  accounted share of loss of Rs. 225 million in an Investee.

Profits after taxes fell 15% as the bottom line got hit with higher taxes at 50% compared to last year's 29%.

SGF Annual ResultsDec-2022yoy
Rs. Mill%
Sales11,75367%
Gross Profit2,18677%
Other Income68429%
Operating Profit1,37984%
Finance Cost467154%
Profit Before Tax68720%
Profit After Tax342-15%
GP Margin18.6%6%
Tax Rate50.3%74%

SGF stock is trading at around Rs. 27.3. In last 52 weeks SGF market price has seen a high of Rs. 52 and low of Rs. 25.

Labels:

Popular posts from this blog

Brent Crude Logs Biggest Weekly Drop Since September on Weak Demand, Easing Tensions

Oil prices were under pressure this week. Brent crude oil futures fell 1.9% to $73 per barrel on Friday, registering the biggest weekly loss since early September, with prices dropping over 7%. The decline was attributed to weaker demand forecasts from OPEC and the International Energy Agency (IEA), slowing economic growth in China, and signs of easing geopolitical tensions in the Middle East. Both OPEC and the IEA revised down their demand forecasts for 2024 and 2025. China's refinery output declined for the sixth consecutive month, impacted by weak fuel demand and the growing adoption of electric vehicles (EVs). Meanwhile, U.S. crude oil production reached a new record last week. Although a drawdown in U.S. crude inventories and stronger-than-expected retail sales in September provided some support to oil prices, easing concerns about a broader conflict in the Middle East exerted additional downward pressure on the market.
Read more
 A Snapshot of Exchange Traded Funds at PSX
Read more

PSX Strongly Rebounds

The Pakistan Stock Exchange (PSX) reacted positively to the conclusion of the IMF staff-level agreement and has now recovered a substantial part of the losses sustained on Monday. Today, out of the 1,139-point gain in the KSE-100 Index, around 800 points were contributed by UBL, OGDC, PPL, and Meezan Bank.
Read more