Tri-Pack Films Limited Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Third Quarter of 2018
August 17, 2018
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Tri-Pack Films Limited announced unaudited earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue was PKR 3,389,558,000 against PKR 3,173,072,000 a year ago. Operating profit was PKR 256,388,000 against PKR 363,102,000 a year ago. Profit before income tax was PKR 146,998,000 against PKR 270,037,000 a year ago. Profit for the period was PKR 113,667,000 against PKR 152,485,000 a year ago. Basic and diluted earnings per share were PKR 2.93 against PKR 3.39 a year ago.
For the six months, the company reported revenue was PKR 6,507,197,000 against PKR 6,061,715,000 a year ago. Operating profit was PKR 442,411,000 against PKR 678,473,000 a year ago. Profit before income tax was PKR 236,653,000 against PKR 502,474,000 a year ago. Profit for the period was PKR 186,870,000 against PKR 335,609,000 a year ago. Basic and diluted earnings per share were PKR 4.82 against PKR 8.65 a year ago. Net cash used in operating activities was PKR 541,778,000 against net cash generated from operating activities of PKR 209,468,000 a year ago. Purchase of property, plant and equipment was PKR 231,558,000 against PKR 213,093,000 a year ago. Purchase of intangible assets was PKR 348,000 against PKR 1,594,000 a year ago.
For the third quarter of 2018, company expects to see improvement in business confidence which is expected to bode well for volumes. Due to major upgrade for BOPP line company may see some impact on volumes and profitability.
Tri-Pack Films Limited is a Pakistan-based company, which is engaged in the manufacturing and sale of biaxially oriented polypropylene (BOPP) film and cast polypropylene (CPP) film. Its products are suited for food and beverage applications, such as snacks, confectionery, dairy food, fresh cut vegetables, beverages and various others, and non-food applications, such as overwrapping, lamination, bag making and various others. The Company has also specialized in developing various high-grade films, include low sealing temperature films, ultra-low temperature sealable film, tobacco non-coated transparent wrap, anti-fog films, perforated films, matt film, in mold labels, low density label films, high gloss label films, broad seal high barrier, ultra-high barrier metallized film, heat resistive BOPP film, cold seal, biaxially oriented polyethylene (BOPE), CPP high speed lamination films, paper bond film, CPP metallized low temperature heat sealable film and CPP metallized high barrier film.
Tri-Pack Films Limited Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Third Quarter of 2018