The after tax profit of Rafhan Maize Products Company has declined to Rs 1.297 billion in the year ended December 31, 2009 as compared to Rs 1.492 billion recorded in the same period in 2008. The company's per share earnings declined to Rs 140.43 in the period under review against Rs 161.57 in the same period a year back.
The board of directors of the company in its meeting held on Monday recommended a final cash dividend for the year at Rs 40 per share, ie 400 percent. This is in addition to two interim dividends already paid at Rs 25 per share each.
According to the financial results, the company's net sales increased to Rs 11.428 billion in 2009 against Rs 10.746 billion recorded in 2008. The cost of sales increased to Rs 8.992 against Rs 8.005 billion. The company's before tax profit stood at Rs 2.011 billion in this year against Rs 2.299 billion registered a year back.
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