KARACHI, July 23: Engro Pakistan Limited is expected to post 54 per cent growth in after-tax profit at Rs1.712 billion, translating into earning per share (eps) at Rs8.32, the average of projected potential results for the first half of the year ended June 30, by four stock brokerage firms, AKD Securities, Arif Habib Limited, Capital One Equities and First Capital revealed.

The company would unveil the financial results following the meeting of the board at 5:30pm on Thursday.

The market is anxiously looking forward to the results of first major liquid company, following the depressing period between April and July. Overall corporate results this season are expected to show a robust growth.

Analysts at Capital One issued the most positive results preview for Engro of an eps of Rs9.17, up 61pc over the corresponding six months of the previous year. AHL visualised eps at Rs8.56 up 56pc; analysts at AKD offered eps at Rs7.77 with First Capital showing an equal eps at Rs7.79, representing growth of 50pc over the previous same period.

Interestingly, all brokerages were expecting the company to disburse first interim cash dividend in the range of Rs2 and Rs2.50.

Analysts said that the growth in bottom line was likely to be a result of higher urea off take, improved gross margins on urea volumes and decent dividend receipts from subsidiaries.

“During the half year under review, urea and DAP prices had averaged to an all time at Rs614 per bag and Rs2,800 per bag respectively,” analysts noted.

HBL and UBL would declare financial results on Friday, which would give an interesting insight into the performance of the banking sector.