Lahore: Berger Paints Pakistan Limited has announced its financial results for the year ended December 31, 2024, following a board meeting held on February 14, 2025. Despite a challenging market environment, the company reported significant financial achievements.
For the half year ending December 31, 2024, Berger Paints reported a revenue of 4.62 billion rupees, up from 4.39 billion rupees for the same period in 2023. The cost of sales amounted to 3.65 billion rupees, leading to a gross profit of 963.91 million rupees, compared to the previous year’s 853.61 million rupees. This growth underscores the company’s resilience and effective cost management strategies amidst fluctuating market dynamics.
The company faced expenses in selling and distribution amounting to 485.28 million rupees, up from 379.20 million rupees in the previous year. Administrative and general expenses were recorded at 118.19 million rupees, compared to 107.69 million rupees in 2023. Other operating expenses were reduced to 20.23 million rupees from 29.97 million rupees, reflecting improved operational efficiencies.
Profit from operations was reported at 340.21 million rupees, slightly higher than the 336.75 million rupees reported in the previous year. Additional income contributed 40.50 million rupees, bringing the profit before income tax to 380.71 million rupees. Following taxation of 128.89 million rupees, the profit after taxation stood at 251.82 million rupees, marking a notable increase from 144.83 million rupees in 2023. The earnings per share for the period were 6.64 rupees, up from 5.90 rupees last year.
According to information available from the Pakistan Stock Exchange (PSX), the company’s strong financial performance is further highlighted by a significant cash flow from operating activities amounting to 343.84 million rupees, compared to 51.24 million rupees in the previous year. This was achieved despite a decrease in cash flow from investing activities, which saw a net outflow of 95.25 million rupees, down from an inflow of 55.62 million rupees in 2023.
The financial statements, including the Statement of Financial Position, Statement of Change in Equity, and Statement of Cash Flows, provide a comprehensive overview of Berger Paints’ financial health. The company reported a net increase in cash and cash equivalents by 140.27 million rupees, closing the period with cash equivalents at negative 462.40 million rupees, an improvement from negative 316.69 million rupees at the end of 2023.
Despite a decision by the Board of Directors not to declare any cash dividend, bonus issue, or right shares, the company’s performance highlights its strategic focus on strengthening its market position and operational capabilities within the designated market category. The financial results will be transmitted through PUCARS separately, ensuring transparency and accessibility for stakeholders.