AGP 1HCY26 profit drops 8%

Mettis Global reported that AGP Limited posted a consolidated net profit of Rs1.55bn for the six months to June 30, 2026, down 8% from Rs1.69bn a year earlier. Earnings per share eased to Rs5.21 from Rs5.25. The company also set an interim cash payout of Rs2 per share.

According to the report, the main drag on earnings was a 9% fall in net revenue to Rs11.53bn from Rs12.72bn. Cost of sales declined 12% to Rs4.67bn, yet gross profit still dropped 7% to Rs6.85bn from Rs7.38bn. Overheads stayed high, which the company linked to commercial activities, with marketing and selling expenses up 2% to Rs3.49bn.

Finance costs fell 12% to Rs660.29m from Rs746.85m, but a new levy of Rs29.56m trimmed profit before taxation, which dropped 21% to Rs2.11bn. A 42% lower net tax charge of Rs559.50m, down from Rs966.70m, softened the impact on the bottom line.