KARACHI: The National Bank of Pakistan (NBP) on Wednesday announced a net profit of Rs23.087 billion for the year ended December 31, 2016, showing a 15 percent growth as compared to Rs20.076 billion earned in 2015.
The earnings per share (EPS) for 2016 clocked in at Rs10.83 as against Rs9.42 in 2015. The bank also announced a final cash dividend of Rs7.5/share along with the corporate results.
The net interest income surged by 27 percent to Rs56.4 billion in 2016 as compared to Rs44.4 billion last year, the bank said in a statement issued to Pakistan Stock Exchange.
The non-core income declined 11.3 percent to Rs31.032 billion in 2016 as against Rs34.99 billion in 2015.
Analyst Fawad Bashir at Arif Habib Limited said that non-core income declined 11 percent on yearly basis, but a rise of 45 percent on quarterly basis "with a stellar growth in fee income of 18.2 percent acted as a major contributor in driving the profitability on quarterly basis, while Rs2.613 billion worth of capital gains, recorded in the fourth quarter of 2016, gave further impetus."
“Operating expenses increased 10 percent led by higher administrative expenses owed to focus on betterment of the IT infrastructure, branch revamping and higher head count,” Bashir added.
SNGPL posts profit in half-year
Sui Northern Gas Pipelines Limited (SNGPL) posted a net profit of Rs3.603 billion for the half-year ended December 31, 2016, a brokerage reported on Wednesday. The company recorded a loss of Rs215.467 million during the same period of the last year.
The earnings per share (EPS) clocked in at Rs5.68 for the six-month. However, the company did not announce any payouts.
Analyst Umair Naseer at Topline Securities said SNGPL posted strong profitability mainly on the back of higher operating profits, linked with increased capital expenditure.
“SNGPL has been undergoing major capital expenditure for the completion of LNG pipeline scheduled to be completed by the end of FY17.”
SNGPL earned a fixed 17.5 percent return on its operating assets, which resulted in higher operating profit.
Unaccounted for gas (UFG) losses are on the declining trend, driving the bottom-line of the company. UFG, in the second quarter of the fiscal year, is estimated at eight percent as against over nine percent during the same period of the last year.
The company’s net sales for the half-year stood at Rs152.313 billion as compared to the sales of Rs119.67 billion a year earlier.
For the quarter ended December 31, 2016, the company posted a net profit of Rs2.203 billion, translating into the EPS of Rs3.47 as compared to the profit of Rs327.97 million and the EPS of 52 paisas last year.
Pioneer Cement profit surges 52 percent
Pioneer Cement Limited has announced a net profit of Rs1.501 billion for the half-year ended December 31, 2016, which is 52 percent higher as compared to the profit of Rs988.412 million earned during the same period of the last year.
The earnings per share (EPS) clocked in at Rs6.61 as against Rs4.35 last year. The company also declared an interim cash dividend of Rs2.15/share along with the results.
Analyst Humaira Akhtar in a report issued by JS Global said clinker sales to Fauji Cement remains the key highlight, leading to healthy growth in net sale revenues of the company, which stood at Rs5.191 billion for the period under review as compared to Rs4.378 billion last year.
For the quarter ended December 31, 2016, the company posted a net profit of Rs799.26 million, translating into the EPS of Rs3.52 as against the profit of Rs556.49 million and the EPS of Rs2.45 last year.
Nestlé Pakistan revenue surges
Nestlé Pakistan posted a yearly revenue of over Rs112 billion for 2016, boosting its overall net profit by 35.2 percent, a statement said on Wednesday. The company witnessed an overall increase in its revenue by almost Rs9.4 billion. Additionally, its earnings per share increased to Rs261.23/share in 2016 from Rs193.18/share in 2015.
The statement said the company’s annual sales revenue went up 9.13 percent. Export sales during the same period stood at Rs4.9 billion.
The gross profit margin increased 226 basis points as compared to 2015, mainly as a result of favourable input costs, optimisation of the value chain and efficient portfolio management.
Nestlé Pakistan’s operating profit increased to Rs19.1 billion, up 17.3 percent.
