Business
Packages Limited 2QCY19 LPS Rs4.94 lower than expectation
Karachi, August 27, 2019: Packages Limited (PKGS) announced 2Q2019 consolidated loss of Rs413 million (LPS Rs4.9/share vs. EPS of Rs8.19 in 2Q018). The result came in below our expectations mainly on the back of higher operating expenses, loss on investment under equity method and high effective taxation. Operating cost of the company was up by…
Fauji Cement post EPS Rs0.28; -71pc YoY in 4QFY19
Karachi, August 27, 2019: Fauji Cement Company Limited reported 4QFY19 EPS of Rs0.28, in-line with our estimates of Rs0.28. Cumulatively the company’s EPS for the year of FY19 declined by 17 percent YoY to Rs2.05. Along with the results the company announced a cash dividend of Rs0.75/share taking total DPS to Rs1.5. Revenue of the company…
Pakistan Stock market slides
Karachi, August 26, 2019: Start of the rollover week marked the return of pain for investors as Pakistan Stock Market ended the session at a bearish note with an intraday slide of 939 points. Selling pressure was observed across the board, with major pressure in E&P, Cement, Power and Steel sectors. Crude oil prices hinted a decline, which…
FPCCI deeply perturbed about change of the recently appointed DGTO
Karachi, August 26, 2019: In a statement issued by FPCCI President Engr. Daroo Khan Achakzai, S. M. Muneer the business community leader has stated that Commerce Ministry has sent a proposal to the Prime Minister for transferring the recently appointed “Regulator of the Trade organization” DGTO. In a statement the apex trade body has stated…
Chairman of board of director Summit Bank visited bank’s head office in Karachi
Karachi, August 24, 2019: Chairman of the Board of Directors of Summit Bank Limited Nasser Abdullah Hussain Lootah, visited the Bank’s head office in Karachi. The visit was immensely productive, consisting of a detailed meeting with the Bank’s senior management to chart the course for the time to come and to spell out the future…