KARACHI: Pak Elektron Ltd announced a profit-after-tax (PAT) for the year ended Dec 31, 2016 at Rs3.67bn (earnings per share at Rs7.50) up 27 per cent from Rs2.88bn and eps at Rs6.61 the previous year.

The board announced a final cash dividend of Rs1.75 per share (17.50pc), which in addition to the already paid Rs1.25 (12.50pc) making the total payout to Rs3 per share for 2016.

Topline improved by 7pc to Rs26.8bn in 2016, from Rs25.1bn the year earlier.

Operating expenses for 2016 increased 19pc YoY to Rs2.7bn, from Rs2.3bn, which was attributed by the analysts to increased discounts and advertising expenses for promotional campaigns.

Operating profit edged higher to Rs5.62bn, from Rs5.19bn and finance costs declined to Rs1.50bn, from Rs1.67bn. The company earned share of profit from associates amounting to Rs0.309m, against loss of 13.5bn the earlier year.

Published in Dawn, March 16th, 2017