Business
HBL: 4QCY20 Earnings Call Key Takeaways
§  Karachi, February 22, 2021: The Bank’s management is embarking on a profit retention/capital conservation strategy, in order to finance several growth projects, which are expected to contribute to profitability over the next 3-5 years. Hence, we believe current level dividend payout is likely to remain unchanged despite earnings growth. § The Bank is also slightly capital…
Domestic Steel Bar prices feared to increase further as Govt snubs Sector Woes!
Karachi, February 22, 2021: The domestic steel re-bar prices are feared to cross Rs150,000 per tonne on massive surge in global scrap rates, which have gone up from $350 per tonne in October to $455 per tonne, and recent 10pc increase in power tariffs for the energy-intensive steel industry. The industry sources say the higher steel prices could jeopardize the government’s…
DGKC PA: 2QFY21 EPS clocked above expectations in at PKR2.6
Karachi, February 19, 2021: DGKC has announced its 2QFY21 results where the company has posted unconsolidated Profit of PKR1.15 billion (EPS: PKR2.6) vs. profit of PKR581 million (EPS: PKR1.3) in SPLY. The result is above our expectations, mainly due to higher than anticipated gross margins. During 2QFY21, revenues decreased by 4 percent, mainly because of…
Textile exports increase by 8pc YoY in January
Karachi, January 19, 2021: After a solid performance last month, textile exports continued to flourish in Jan-2021, increasing by 11 percent YoY to US$1,323mn. Cumulatively, this takes 7MFY21 textile exports to US$8,766mn, translating to growth of 8 percent YoY. Value-added segments shined yet again, particularly Knitwear (33 percent YoY) and Towels (34 percent YoY), whereas…
SBP makes Digital and Card Transactions more secure and easier
Karachi, February 19, 2021: In order to promote digital payments, SBP has been taking steps to make them more secure, introducing new features and promoting their use. In consultation with the industry and other stakeholders, SBP has taken more steps to make digital transactions and card payments more secure and easier. Now the consumers will…