Fauji Cement profit surges 31pc

KARACHI: Fauji Cement Company Ltd declared FY18 profit after tax (PAT) at Rs3.43 billion, higher by 31pc, translating into earnings per share (EPS) of Rs2.49. PAT in the previous fiscal year stood at Rs2.62bn while EPS was Rs1.89.

The board also announced a final cash dividend of Re1 per share. Higher earnings primarily resulted from improvements in gross margins, lower effective tax rate of 16pc in FY18 versus 34pc in FY17, where company recorded a one-time deferred tax adjustment of Rs196m in 4QFY18.—Equities Correspondent

Packages Ltd earns Rs814m

KARACHI: Packages Ltd announced 2QCY18 consolidated earnings of Rs814 million (EPS Rs8.3), down 51pc in line with the market expectations. Net revenues were up 96pc during the outgoing quarter due to consolidation of Bulleh Shah Packaging’s (BSPL) sales and revenue from Packages Mall. —Equities Correspondent

EPCL plans capacity expansion

KARACHI: Engro Polymer and Chemicals Ltd (EPCL) informed the Pakistan Stock Exchange on Monday that it had signed a contract with Tianchen Corp China for an integrated manufacturing facility with an annual capacity of 100,000 MT per year.

Earlier on Dec 28, 2017, the company had announced approval of capacity expansion of PVC (for which it was raising funds, inter alia, by way of a right issue of shares).—Equities Correspondent

Published in Dawn, August 28th, 2018