Symmetry Group Posts 123% Profit Growth in FY23

Symmetry Group Limited (PSX; SYM) announced its financial results for the financial year that ended June 30, 2023. According to the company’s consolidated results, it posted a profit after tax (PAT) of Rs. 158.8 million for FY23, up by 123 percent year-on-year (YoY) against Rs. 71.3 million recorded in the same period last year. Along with the result, SYM announced a final cash dividend of Rs. 0.05 per share (5 percent) for the period in review. Consolidated revenue grew by 26.5 percent from Rs. 363.2 million to Rs. 459.5 million in FY23. Gross profit and operating profit increased by 50 percent and 76 percent, respectively. Other income of the company jumped by 294 percent from Rs. 7.8 million to Rs. 30.6 million in FY23. Meanwhile, the finance costs of SYM soared by 97 percent to Rs. 18 million during the period in review. Administrative and general expenses during FY23 spiked by 18 percent from Rs. 78.3 million to Rs. 92.2 million. Additionally, the company paid Rs. 25.7 million in taxes. SYM posted earnings per share of Rs. 0.81 in FY23 compared to an EPS of Rs. 0.36 in SPLY. At the time of filing, SYM’s scrip at the bourse was Rs. 3.82, up 0.79 percent or Rs. 0.03 with a turnover of 1,539,500 shares on Friday.