Engro revenue up by 16pc

ISLAMABAD: Engro Corporation on Wednesday reported 16 per cent increase in its revenues to Rs77.541 billion during the first half of this calendar compared to Rs66.874bn in the corresponding period of 2013.

According to a statement, the increase in revenue was driven by higher fertiliser sales at Engro Fertilisers and Engro EXIMP.

Profit before tax (inclusive of non-controlling interest) was also higher by 11pc amounting to Rs5.351bn as compared to Rs4.822bn last year.

However, higher tax provisions by the businesses resulted in decreasing profit after tax to Rs2.684bn from Rs3.341bn of first half of 2013.

The company also announced an interim cash dividend of Rs2 per share for the year ending December 31, 2014.—APP

Bank Alfalah posts pre-tax profit of Rs4bn

KARACHI: Bank Alfalah Limited on Wednesday posted profit before tax of Rs3.978 billion for the half year ended June 30, 2014, a growth of 45 per cent over the corresponding period last year.

Earnings per share were reported at Rs1.93 as against Rs1.44 last year, an increase of 34pc.

Total revenue for the period was reported at Rs13.9bn as against Rs11.7bn last year, a growth of 19pc. The net provisioning and impairment charge reduced by 74pc, from Rs0.873bn in June 2013 to Rs0.227bn.

Share of non mark-up income to total revenue was recorded at 31pc, with non mark-up income registering a growth of 12pc against the corresponding six month period, ending at Rs4.375bn.—Staff Reporter

Published in Dawn, August 21st, 2014