February 26, 2025 (MLN): Gillette Pakistan Limited (PSX: GLPL) has reported a 13.52% decline in net profit for the half-year ended December 31, 2024, reaching Rs21.7 million compared to Rs25.1mn in the same period last year.The earnings per share (EPS) dropped to Rs0.68 from Rs0.79, reflecting a weaker financial performance despite a 23.14% increase in revenue, which stood at Rs915.9mn, up from Rs743.8mn in 2023.However, the 49.22% surge in the cost of goods sold, amounting to Rs614.8mn, significantly impacted profitability, leading to a 9.24% decline in gross profit, which fell to Rs301.1mn.While selling, marketing, and distribution expenses saw a major reduction of 67.96%, and administrative expenses dropped by 8.29%, the company faced a 157.82% increase in other operating expenses, rising to Rs58.1mn.Additionally, finance costs increased due to a 13.29% rise in interest expense, reaching Rs122.7mn, while bank charges surged 477.27% to Rs0.5mn.Other income saw a 49.74% decline, amounting to Rs46.6mn, further affecting the bottom line.Despite these challenges, total expenses were reduced by 13.79%, helping to mitigate the impact on profitability.The company also benefitted from a 54.58% decline in levies and a 38.78% reduction in income tax expenses.Financial Results For The Half Year Ended December 31, 2024 (Rupees '000) Dec-24Dec-23%ChangeRevenue from contract with customers915,884743,76323.14%Cost of goods sold(614,789)(412,014)49.22%Gross profit301,095331,749-9.24%Selling, marketing, and distribution expenses(43,077)(134,444)-67.96%Administrative expenses(73,086)(79,692)-8.29%Other operating expenses(58,131)(22,547)157.82%Interest expense(122,708)(108,317)13.29%Bank charges(508)(88)477.27%Total expenses(297,510)(345,088)-13.79%Other income46,63592,788-49.74%Profit before tax50,22079,449-36.79%Levies(13,671)(30,096)-54.58%Income tax expense(14,854)(24,265)-38.78%Profit after tax21,69525,088-13.52%Earnings per share – basic and diluted0.680.79-13.92%Copyright Mettis Link NewsPosted on: 2025-02-26T15:13:33+05:00The post Gillette Pakistan’s profits trimmed, down 14% appeared first on Mettis Global Link.