AGP Limited Reports No Dividend or Share Adjustments in Mid-Year Financial Summary

Karachi: AGP Limited, a leading pharmaceutical company, has disclosed its financial outcomes for the half-year ended June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the company’s board, during a meeting on August 27, 2024, in Karachi, has declared no cash dividends, bonus shares, or rights shares as part of their corporate strategy.

For the period concluded on June 30, 2024, AGP Limited recorded significant revenue from contracts with customers amounting to Rs. 11,642.064 million in the first half of 2024, compared to Rs. 8,088.227 million during the same period last year. The company’s gross profit saw an increase, rising from Rs. 4,179.578 million in 2023 to Rs. 6,292.065 million in 2024.

Despite the higher revenue and gross profits, the company’s net profit after taxation stood at Rs. 858.108 million for the half-year, showing an improvement over Rs. 732.156 million in the previous year. Earnings per share also increased to Rs. 2.79 from Rs. 2.27.

Administrative expenses and marketing costs remained a significant expenditure, totaling Rs. 462.801 million and Rs. 3,008.345 million, respectively. The company managed to offset some costs through other income, which amounted to Rs. 77.677 million.

AGP Limited’s finance costs totaled Rs. 1,475.309 million, a notable increase from the prior year’s Rs. 431.673 million, reflecting a steeper financial expense amidst a volatile economic environment.

The detailed financial statements and the half-yearly report of AGP Limited will be made available through the PSX’s PUCARS system within the designated timeline.

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