The profit after tax of Dawood Hercules Chemicals Limited increased to Rs 510.445 million in the second quarter ended June 30, 2008 as compared to Rs 146.589 million in the corresponding period in 2007. The company's earning per share has increased to Rs 5.13 in the period under review against Rs 1.47 in the same period last year.
The board of directors of the company, at its meeting held here on Wednesday recommended an interim cash dividend for the year ending December 31, 2008 at Re. 1.00 per share ie 10 percent. The board also recommended payment of 10 percent bonus ie one bonus share for every 10 shares held.
The bonus shares, however, will not be eligible for the interim cash dividend of 10 percent for the year ending December 31, 2008. According to the financial results, the company's net sales increased to 1,227.710 million in this quarter as compared to Rs 762.344 million in the same quarter last year.
The cost of goods sold, on the other hand, also increased to Rs 683.739 million in this period against Rs 448.751 million in the same period a year back. Selling and administrative expenses surged to Rs 80.115 million against Rs 71.437 million. The company's profit before tax increased to Rs 840.700 million in this period against Rs 257.453 million in the same quarter in 2007.