KARACHI, Oct 24: Several companies held meetings of their Board of Directors on Wednesday mainly to declare results for the quarter ended Sept 30, 2007. Some of the financial figures were as follows:
MEEZAN BANK: The bank posted after tax profit amounting to Rs654 million for the three quarters ended Sept 30, which represented growth of 47 per cent over post-tax profit of Rs444 million in the corresponding nine months of the previous year.
The bank stated in a press statement that income from core banking business had increased by 69 per cent, “maintaining healthy trend of decreasing dependence to volatile non-banking income”.
Earning per share (eps) for the nine months increased to Rs1.73, from Rs1.42 in the same time last year. Deposits of the bank grew by 75 per cent over corresponding period last year.
“The non-performing accounts were maintained at approximately 1.5 per cent of the total financing portfolio”, the bank stated.
ICI PAKISTAN: Operating results for the quarter and nine months 2007 improved by 16pc at Rs750.2 million and 10pc at Rs1,988.8 million, respectively, over the corresponding period in the previous year.
The profit before tax for the Q3 2007 rose by 35pc to Rs742.3 million, with an increase of 23pc for the nine months, at Rs1,868.1 million. Figures for profit after tax stood at Rs437.4 million for Q3, an increase of 8pc in comparison to the Q3 2006, while an increase of 19pc, at Rs1178.3 million, was achieved in profit after tax for the nine months.
Earnings per share for the quarter and the Nine Months were up by 8pc, at Rs3.15 and 19pc at Rs8.49, respectively over the corresponding period in the previous year.
MARI GAS: Profit after tax for the three months ended Sept 30, 2007 amounted to Rs181 million, which compared with taxed profit at Rs154 million in the same time last year.
Earning per share (eps) on the basis of distributable profit increased to Rs1.59, from Rs1.40 and eps on the basis of profit and loss account rose to Rs4.92, from Rs4.19.
Gross sales to customers stood slightly reduced to Rs5.3 billion, from Rs5.7 billion. Gas development surcharge reflected substantial decline to Rs2.7 billion, from Rs3.7 billion in the same quarter last year.
CENTURY PAPER & BOARD MILLS: After tax profit reflected sizeable increase at Rs58 million for the quarter ended Sept 30, 2007, translating into eps at Rs0.82, compared to taxed profit at Rs22 million and eps at Rs0.31 in the same three months of last year.
Net sales for the quarter under review stood at Rs1.1 billion, against Rs0.9 billion in the quarter ended Sept 30 of last year. The company paid Rs167 million and Rs134 million on account of sales tax-excise duty, respectively in the period under review and the same quarter of last year.
TRI PACK FILMS: Profit after tax for the nine months ended Sept 30, 2007 amounted to Rs318 million compared with after tax profit at Rs102m in the corresponding three-quarters of 2006.
Those translated into eps at Rs10.62 and Rs3.38. Net sales increased to Rs3.4 billion for the latest nine months to Sept 30, 2007 compared with Rs2.7 billion in the same time last year.
Gross profit was up at Rs680 million, from Rs342 million and operating profit stood at Rs579 million in the nine months under review, against Rs247 million in the same time last year.