KARACHI: Engro Corporation posted a consolidated profit-after-tax (PAT) at Rs11 billion for 1HCY18, up 65 per cent, from Rs6.7bn in the similar period last year.
PAT attributable to the shareholders increased from Rs3.8bnto Rs6.1bn. Revenue grew 37pc to Rs71.7bn, from Rs52.2bn. “Increase was primarily driven by improved fertilisers and petrochemicals performance,” the company said in a statement.
On a standalone basis, Engro recorded PAT at Rs3.8bn against Rs4.1bn, translating into earnings per share (EPS) of Rs7.20 against 7.84 (higher PAT in the previous period was due to the one-off super dividend from Engro Foods). The company announced interim cash dividend at Rs7 per share for the quarter, taking the cumulative payout to Rs12 per share.
Nestle PAT dips 20pc
Nestle Pakistan declared 1HCY18 PAT at Rs6.3bn and EPS at Rs138.03, down 20.2pc, from Rs7.9bn and Rs175, respectively. Sales grew to Rs64.6bn from Rs61.9bn while the board announced an interim cash dividend at Rs110 per share. For 2Q2018, EPS shrank by 25pc to Rs63.30. Lower gross margins and increased financial charges dragged down the company’s earnings.
Shell profits drop to Rs1.6bn
Shell Pakistan posted half yearly profit at Rs1.6bn (EPS: Rs14.98), down from PAT at Rs2.3bn (EPS: Rs21.85). A cash dividend at Rs7 per share was also announced. Net revenue decreased to Rs106.9bn, from Rs117.9bn. In 2QCY18, EPS was declared at Rs2.31, lower by 74pc year-on-year from the same quarter last year. The decline was attributed by analysts to a drop of 30pc in volume.
Philip Morris earnings rebound
The tobacco company declared 1HCY18 earnings at Rs72m and EPS at Rs4.62, representing turnaround from a loss of Rs46m and loss per share at Rs7.53 in the same period last year. The top line grew to Rs7.65bn, from Rs4.19bn. For the 2QCY18, gross margins went higher by three page percentage points to 41pc and financial charges were down 87pc, contributing positively to the company’s performance.
BAHL earns Rs4.2bn
Bank Al Habib Ltd (BAHL) recorded half yearly profits at Rs4.2bn, going down from Rs4.41bn in the corresponding period last year, translating into EPS at RS3.78.
Published in Dawn, August 17th, 2018
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