KARACHI: Engro Corporation posted 9MCY19 consolidated profit after tax (PAT) at Rs21.89 billion, jumping by 22.6 per cent over Rs17.85bn in same period last year.

Profit attributable to owners was recorded at Rs13.03bn and earnings per share (EPS) at Rs22.61, up 31pc, from Rs9.95bn and EPS at Rs17.27 same period last year.

For 3QCY19, the company earned PAT of Rs6.15bn, translating into EPS of Rs10.67. This represented growth of 59pc over PAT at Rs3.86bn and EPS Rs6.69 in the same quarter of 2018.

Along with the results, Engro announced a cash dividend at Rs8 per share which was in addition to Rs15 already paid earlier.

Maple Leaf incurs Rs982m loss

Maple Leaf Cement Ltd recorded first quarter’s consolidated loss of Rs982 million and loss per share at Rs1.65.

This was down from PAT at Rs587m and EPS Rs0.99 in same quarter last year. Finance cost clocked in at Rs800m, which was higher than expectations.

Sales grew 26pc to Rs7.15bn, from Rs5.65bn but the gross margin declined sharply. Analysts said that high freight cost was the main culprit behind depressed gross margins after company supplied to far flung areas to ramp up utilisation and keep the market share high.

BankIslami earns Rs973m

BankIslami posted PAT of Rs973m for nine months ending Sept 30, which is 8.8 times better over last year’s earnings of Rs99m in same period last year, said a press release.

Moreover, the bank has also announced issuance of right shares amounting to Rs1bn which will further fortify its net worth and capital adequacy.

Bank Al Habib earnings surge

Bank Al Habib declared 9MCY19 PAT at Rs7.005bn, surging by 175pc over Rs2.544bn.

This translated into EPS of Rs6.3 during the period versus Rs2.29 in 9MCY18.

CECP appoints new manager

Coca-Cola Export Corporation Pakistan (CECP) on Thursday announced appointment of Fahad Ashraf as its new general manager for Pakistan and Afghanistan region, said a press release.

Published in Dawn, October 25th, 2019