So far, things have rolled smoothly on RLNG-based power projects, for the Federal and Punjab governments. After the government decided that it is not feasible for private sector to come up with mega projects on LNG, given the short time line; it formed two companies under the umbrella of the federal and provincial governments, to quickly install and operate power plants.
A cursory look at Standard Chartered Bank (Pakistan) Limiteds (SCB) 1HCY15 income statement says the bank did well enough to report a modest increase in profits. A closer look tells the bank has further improved its cost control and deposit mix, in a time when spreads are thin and yields on investments have shrunk. A year-on-year comparison with after-tax profits does not show the correct picture either - the 17 percent rise in pre-tax income is rather more comparable.
There is a reason why Adamjee Insurance (AICL) has been outperforming the benchmark index at the local bourse. Led by significant turnaround in motor and miscellaneous segments, AICL has managed to increase its underwriting results nearly 15 times in the half year ending June 2015, leading up to a 89 percent growth in bottom line profits. Little wonder then that firms stock ended 2.34 percent higher on yesterdays close as against a broader market that was up 1.4 percent.
Service Industries Limited (SIL), one of the countrys prominent footwear retailers which have also diversified into rubber-related businesses, has performed pleasantly in the 1HCY15.
As per KSE notice on Thursday, the firm reported a nine percent year-on-year growth in its top line. The bulk of SILs top line still comes from its flagship footwear business.
FY15 has been a weak year for the oil and gas exploration and production companies as oil prices remained stunted. The largest E&P giant witnessed 18 percent year-on-year decline in its net revenues in FY15, which remained the key reason for the decline in the firm's profitability during the period.
Mobile financial services (MFS) - also referred to as branchless banking (BB) - have been dubbed one of the inspiring success stories from Pakistan lately. But is this budding sector really helping folks become financially organized?
When you pay more tax than you made profits a year ago, you have certainly done a pretty good job. And Askari Bank Limited (AKBL) has continued the impressive turnaround in the 2QCY15 as well, with after-tax profits growing 42 percent year-on-year. What is even better is that the turnaround is led by the top line, signalling AKBL is ticking the right boxes.