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Laugfs Gas PLC and its subsidiaries in a Stock Exchange filing of the un-audited financial statements for the fourth quarter ended March 31, 2013, indicated record performance with Group revenue for the year under review reaching Rs. 10.6 billion.

The Profit Before Tax of the Group recorded Rs. 1.3 billion, a growth of 29% over the previous financial year. The Group Total Comprehensive Income for the year, Net of Tax recorded Rs. 1.0 billion as against Rs. 597 million last year.

The Total Group Assets increased by 3% to Rs. 10.6 billion. The Property, Plant and Equipment increased to Rs. 6.5 billion, Net of Depreciation increased 18% over the previous year. Productive investments would accrue benefits to the shareholders in the ensuing years in the form of better returns having comparatively shorter gestation periods and early pay backs.

The group's retained earnings increased by 16% to Rs. 3.5 billion, while Net Assets increased by 8% to Rs. 6.5 billion. The Net Asset Value Per Share increased to Rs. 16.76 from Rs. 15.58 the previous year.

The Earnings Per Share (EPS) increased by 28% from Rs. 2.14 to Rs. 2.74 per share.

The downstream operations of LP Gas again recorded highest ever revenue of Rs. 9.7 billion, an increase of 16% over the preceding year.

The Gross Profit margin, however, reduced to 11% from the previous year’s 14%.

The company’s EBITDA surged to Rs. 1.6 billion, an increase of 62% over the previous year, a creditable achievement in the wake of uncertainties and slowdown of economic activities.

The Profit Before Tax of the company from continuing operations was Rs. 1.4 billion, an increase of 72% over the previous year. We have more than doubled the Total Comprehensive Income Net of Tax to Rs. 1.2 billion during the year under review from Rs. 411 million recorded last year. The company’s total liabilities reduced by 4% during the year to Rs. 3.9 billion.

The company’s retained earnings increased 27% from Rs. 2.3 billion last year to Rs. 3 billion in the current year. The Board of Directors have declared a first and final dividend of Rs. 1.50 per share for the financial year ended March 31, 2013.

This is the third consecutive time the company declared dividends after its historic IPO in December 2010. The LP Gas industry globally is in the midst of a structural change as new sources of supply compete for market share, and as a cleaner source of energy take a greater share of primary energy consumption.