Karachi, August 27, 2019: The local automobile industry remains in depression as high interest rate, rising inflation, slow-down in economic activities and glitches on purchasing cars by non-filer affecting the vehicle’s demand in the country. According to a report prepared by Spectrum Securities, therefore, the profitability of auto sector went into recession and posted a…
Karachi, August 27, 2019: ACCA organized a high-level conference on Finance Act 2019 in Lahore. The event featured contributions from regulators, policy advisers, leading tax experts and senior ACCA members. Prominent conversation leaders included Javed Ahmed, Chairman, Punjab Revenue Authority (PRA), Ashiq Ali Rana, Acting President, Lahore Tax Bar Association (LTBA), Irfan Ilyas FCCA, Partner, Irfan…
Karachi, August 27, 2019: As a part of 100 Million Tree Plantation / Drive Campaign initiated by the Prime Minister of Pakistan Imran Khan with the view to increase forest cover throughout the country, Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) also launched a ceremony at all…
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…
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…