RECORDER REPORT

KARACHI: The profit after tax (consolidated) of Millat Tractors Limited (MTL) has been increased to Rs 5.963 billion in the year ended June 30, 2018 (FY18) as compared to Rs 4.922 billion earned in the corresponding period FY17.

The company’s earning per share increased to Rs 134.64 in the period under review against Rs 111.14 in the same period a year back.

The board of directors of the company, in its meeting held on Wednesday at Lahore recommended a final cash dividend for the year at Rs 60 per share i.e. 600 percent. This is in addition to interim dividend already paid at Rs 60 per share i.e. 600 percent.

According to the financial results sent to Pakistan Stock Exchange, the company’s net sales increased to Rs 39.586 billion in FY18 as compared to Rs 31.612 billion in FY17. The cost of sales increased to Rs 29.129 billion against Rs 22.825 billion.

The company’s profit before taxation increased to Rs 8.885 billion in FY18 against Rs 7.333 billion in FY17.