Thal Limited profit grows 89.5pc

KARACHI: Thal Limited has earned a net profit of Rs5.502 billion for the year ended June 30, 2017, showing a growth of 89.5 percent as compared to Rs2.903 billion during the same period last year.

The earnings per share (EPS) clocked in at Rs63.52 in FY17 as compared to EPS of Rs31.72 in FY16. Thal also announced a final cash dividend of Rs16/share, which is in addition to the interim cash dividend of Rs3.75/share already paid to the shareholders.

The company’s sales revenue for the outgoing year stood at Rs18.136 billion as compared to Rs16.823 billion last year. Thal’s other income also surged 90.6 percent to Rs4.5 billion during the year under review as against Rs2.363 billion during the previous year.

Moreover, the board of directors of Thal Limited approved that an additional investment of up to Rs275 million would be made in its subsidiary Thal Boshoku Pakistan (Private) Limited through subscription of right shares of up to 27.5 million shares of Rs10 each, which would be proportionate to Thal Limited's shareholding in Thal Boshoku Pakistan (Private) Limited. This investment is subject to approval by the shareholders in the forthcoming annual general meeting scheduled for October 9, 2017.