Karachi: Abbott Laboratories (Pakistan) Limited has announced a final cash dividend of Rs. 10.00 per share for the fiscal year ending December 31, 2024. This decision was made during the company's Board of Directors meeting on February 20, 2025. The dividend reflects a 100% payout for the year.

According to the company's financial statement, Abbott Laboratories (Pakistan) Limited reported a substantial increase in net sales for 2024, amounting to Rs. 68.18 billion, compared to Rs. 55.48 billion in 2023. The cost of sales for the year was Rs. 48.44 billion, up from Rs. 43.66 billion in the previous year. This resulted in a gross profit of Rs. 19.74 billion, a notable increase from the Rs. 11.82 billion reported in 2023.

Selling and distribution expenses were recorded at Rs. 9.30 billion, while administrative expenses reached Rs. 1.17 billion in 2024. The company also reported other charges of Rs. 838.38 million and other income of Rs. 723.24 million. After accounting for these expenses, the total operating expenses amounted to Rs. 10.59 billion, up from Rs. 9.20 billion in 2023.

Profit before finance costs and taxes stood at Rs. 9.15 billion, a significant rise from Rs. 2.62 billion in the previous year. Finance costs slightly decreased to Rs. 23.61 million from Rs. 30.29 million in 2023. Consequently, the profit before minimum tax differential, final taxes, and income tax reached Rs. 9.13 billion, a substantial increase from Rs. 2.59 billion in 2023.

According to information available from the Pakistan Stock Exchange (PSX), Abbott Laboratories (Pakistan) Limited's profit before income tax was Rs. 9.02 billion, compared to Rs. 2.04 billion in the prior year. The company paid income taxes amounting to Rs. 3.79 billion, resulting in a profit for the year of Rs. 5.23 billion, a significant improvement from the Rs. 261.78 million reported in 2023.

The earnings per share for 2024 were reported at Rs. 53.46, compared to Rs. 2.67 in the previous year. The Annual General Meeting of the company is scheduled for April 23, 2025, at 10:00 a.m. at the ICAP Auditorium in Karachi.

Shareholders on record as of April 15, 2025, will receive the dividend. The company's share transfer books will be closed from April 16 to April 23, 2025, inclusive. The Annual Report will be distributed via PUCARS at least 21 days prior to the Annual General Meeting.