Board Meeting Results for the Financial Year Ended December 31, 2023
Dear Sir,
We wish to inform you that the Board of Directors of Philip Morris (Pakistan) Limited ("the Company") at its meeting held on March 22nd, 2024, has approved the audited Financial Statements of the Company for the year ended December 31, 2023, and is pleased to announce the results which are attached herewith as Annexure A.
Annual General Meeting:
The Annual General Meeting ("AGM") of the Company will be held on Friday, April 26, 2024, at 11:00 am at the Pakistan Stock Exchange Auditorium and also online via video link.
The Shares Transfer Books of the Company will remain closed from April 19, 2024, to April 26, 2024 (both days inclusive). Transfers received in order at the office of the Company's share Registrar, Central Depository Company at CDC House, 99-B, Block B, S.M.C. H.S. Main Shahrah-e-Faisal, Karachi, at the close of business on April 18, 2024, will be considered in time to be eligible to attend the meeting.
The Annual Report of the Company will be transmitted through PUCARS at least 21 days before holding of AGM.
Yours faithfully,
For PHILIP MORRIS (PAKISTAN) LIMITED
Sana Enait Hashmi
Company Secretary
Philip Morris (Pakistan) Limited
Annexure A
2023 2022 (Rupees in thousand)
Turnover - net
18,219,709
19,838,541
Cost of sales
12,082,355
10,943,558
Gross profit
6,137,354
8,894,983
Distribution and marketing expenses
5,578,496
3,329,049
Administrative expenses
1,838,038
1,645,663
Other expenses
1,084,733
1,039,056
Other income
(3,409,915)
(1,457,171)
5,091,352
4,556,597
Operating profit
1,046,002
4,338,386
Finance cost and bank charges
90,336
66,699
Profit before taxation
955,666
4,271,687
Taxation
575,865
1,461,941
Profit after taxation
379,801
2,809,746
Other comprehensive (loss) / income for the year - net of tax
Item that will not be reclassified to profit or loss
Remeasurement (loss) / gain relating to staff retirement benefits
(92,029)
33,300
- Impact of current tax
35,891
(10,989)
(56,138)
22,311
Total comprehensive income for the year
323,663
2,832,057
Earnings per share - basic
Earnings per share - diluted
Philip Morris (Pakistan) Limited
Rupees
6.17
30.33
4.72 Note 31.4
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Philip Morris (Pakistan) Ltd. published this content on
25 March 2024 and is solely responsible for the information contained therein. Distributed by
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25 March 2024 03:30:01 UTC.
Philip Morris (Pakistan) Limited is a Pakistan-based tobacco manufacturing company. The Company is engaged in the manufacturing and sale of cigarettes, tobacco products and other smoke free products. The Company has one tobacco leaf threshing plant in Mardan and one cigarette manufacturing factory in Sahiwal. Its portfolio includes Marlboro Gold, Marlboro Red, Marlboro Advance, Parliament Night Blue, Parliament Red, Morven by Chesterfield, Morven Classic, Red & White, Red & White Special, Diplomat, K2 and Royals. Its SHIRO is an oral smoke free product which is completely tobacco free. The Company's SHIRO nicotine pouches are available in three flavors and two levels of nicotine strengths. Its subsidiary is Laksonpremier Tobacco Company (Private) Limited.
PHILIP MORRIS (PAKISTAN) LIMITED 
