Nestlé Pakistan profit jumps to Rs11.8bn

LAHORE: Nestlé Pakistan’s after-tax profit rose more than 35 per cent year-on-year to Rs11.8 billion in 2016, the company announced on Wednesday. Earnings per share edged up to Rs261.23 from Rs193.18 a year ago. The company’s revenue, which crossed Rs100bn in 2015, increased by 9pc to Rs112bn in 2016. Export sales stood at Rs4.9bn during the period.

Hascol lays foundation of lube oil plant

KARACHI: Hascol Petroleum Ltd has laid the foundation its lube oil blending plant in a ceremony attended by Consul General of Germany Rainer Schmiedchen, said a press release issued on Tuesday.

Saudi Aramco taps US banks for IPO

RIYADH: Oil giant Saudi Aramco has asked JPMorgan Chase & Co and Morgan Stanley to assist with its upcoming mammoth IPO and could call on another bank with access to Chinese investors, a source with direct knowledge of the matter said.

Published in Dawn, February 23rd, 2017