Pakistan’s MPCL included in world’s most profitable companies

ISLAMABAD: Plimsoll, a UK based leading international firm, which analyses companies in its recent report, ranked Mari Petroleum Company Limited (MPCL) as 29th most profitable company in the world.

The Plimsoll analysed 330 large companies in oil and gas sector where a general downward trend is observed in sales growth and profit margins of E&P giants due to unstable global oil prices.

MPCL has been categorised as ‘Strong’ a rating reserved for only a selected few companies whose growth and profit shows sustainable improvements. According to Plimsoll analysis published on its website, the total value of MPCL is $1,137.4 million.

The Plimsoll has analysed that MPCL’s total sales have risen six times during the year as compared to other leading companies. Plimsoll, that assesses business and financial performance of any given industry using its transparent model has rated MPCL’s pretax profit margin at 37.5% as compared to -0.4% globally, thus stating that MPCL profits have risen 70% during the last year.

Taking note of Plimsoll’s report, MPCL Managing Director Lt Gen (r) Ishfaq Nadeem Ahmad has congratulated the employees and has urged them to continue working hard, so that MPCL sustains its position as a leading E&P Company of the world. He also emphasised that the Plimsoll’s analysis is for the year ending 2017. The company has done even better in the year ended on 30th June 2018.