The after tax profit of Pak Suzuki Motor Company (PSMC) has declined to Rs 255.219 million in the year ended December 31, 2009 as compared to Rs 624.785 million earned in the corresponding period in 2008. The earning per share of the company declined to Rs 3.10 in the period under review against Rs 7.59 in the same period a year ago.
The board of directors of the company in its meeting held on Monday recommended a final cash dividend for the year at Re. 0.50 per share ie 5 percent. According to the financial results sent to Karachi Stock Exchange, the company's turnover declined to Rs 26.234 billion in 2009 against Rs 39.669 billion recorded in 2008. The cost of sales declined to Rs 25.664 billion against Rs 39.081 billion.
The company's distribution cost stood at Rs 214.550 million against Rs 309.458 million while administration expenses declined to Rs 495.200 million against Rs 506.160 million. The company's profit before taxation declined to Rs 427.843 million in 2009 against Rs 992.176 million in the same period in 2008.
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