Attock Cement posts Rs1.37bln profits

Attock Cement Limited has announced a net profit of Rs1.378 billion, translating into the earnings/share (EPS) of Rs12.03 for the half-year ended December 31, 2016, which is 19 percent higher than the profits of Rs1.152 billion and the EPS of Rs10.07 announced during the same period of the last year.

The surge in profitability can be attributed to higher sales, which stood at Rs7.228 billion for the period under review as compared to the sales of Rs6.396 billion during the same period of the last year.

For the quarter ended December 31, 2016, the company posted a profit-after-tax of Rs687.18 million and EPS of Rs6 as compared to the profits of Rs671.434 million and EPS of Rs5.86 during the same period of the last year.

Attock Cement did not announce any payouts along with the corporate results.        

        

POL profits increase 29 percent

Pakistan Oilfields Limited (POL) has announced a net profit of Rs4.769 billion, translating into the earnings/share (EPS) of Rs20.07 for the half-year ended December 31, 2016, which is 29 percent higher than the profit of Rs3.684 billion and the EPS of Rs15.5 announced during the same period of the last year.

POL also declared an interim dividend of Rs15/share along with the half-yearly results.

The surge in profitability can be attributed to higher sales, which stood at Rs14.437 billion for the period under review as compared to the sales of Rs13.9 billion during the same period of the last year.

Operating costs also declined 8.7 percent to Rs4.37 billion, while exploration costs reduced by massive 84 percent to Rs190 million.

 

National Refinery profits up

The National Refinery Limited has announced net profits of Rs3.967 billion, translating into the earnings/share (EPS) of Rs49.62 for the half-year ended December 31, 2016, which is 37 percent higher than the profits of Rs2.88 billion and the EPS of Rs36.07 announced during the same period of the last year.

The company’s net sales stood at Rs52.33 billion as compared to the sales of Rs54.6 billion in the same period of the last year.

National Refinery did not announce any payouts along with the corporate results.

 

Attock Petroleum announces Rs15 payout

Attock Petroleum Limited has announced net profits of Rs3.156 billion, translating into the earnings/share (EPS) of Rs38.06 for the half-year ended December 31, 2016, which is 92 percent higher than the profits of Rs1.64 billion and the EPS of Rs19.78 announced during the same period of the last year.

“The growth is justified by revised retail margins, higher retail sales volumes, and inventory gains as a result of rebound in oil prices,” Waleed Rahmani said in his comments on the corporate announcement.

A hefty payout of Rs15/share accompanied the financial results.

Faizan Ahmed at JS Global said in a report that the announcement outperformed expectations for the quarter, mainly due to one-off Workers Welfare Fund expense reversal, as recent Supreme Court decision rendered changes in Workers Welfare Ordinance made through Finance Acts of 2006 and 2007 unlawful.

For the quarter ended December 31, 2016, the company posted profit-after-tax of Rs1.59 billion and the EPS of Rs19.21 as compared to the profits of Rs949.27 million and the EPS of Rs11.44 during the same period of the last year.