Pakistan Oilfields Limited, the third largest oil and gas producer in the country, posted decent FY13 profits last week. More was expected as the profits remained below the consensus estimates, mainly on account of very high amortization charges that more than doubled during the year. The significantly better production flows, particularly, that of oil, helped the top line grow significantly, translating to the bottom.
FY14 was a decent year for Attock Petroleum. However, the year proved out to be not as good as the analyst community had anticipated. The financial results of Attock Petroleum (KSE: APL) depicted an increase of 11 percent year on year in its bottom line.
Riding on robust domestic sales and exports to Afghanistan, the Cherat Cement Company Limited (KSE: CHCC) has been able to post decent growth in its bottom line for the year ended June 2014. The Companys earnings are increased by 7.2 percent during the year along with 2.5 percent growth in sales.
Rupee is back in the news again; this week it was seen kissing the psychological barrier of 100 against greenback. But will it weaken further?
The currency market has been in strict scrutiny of the State Bank under the influence of Finance Ministry ever since the market rebounded in March.
So the Competition Commission of Pakistan (CCP) thinks discriminatory practices in allowing access to Inland Freight Equalization Margin (IFEM) is indeed not healthy. Yes, discrimination is never good. But, is the IFEM in itself any good?
Big or small, it is time for banks to make money and Soneri Bank did just that last quarter. The 1H CY14 profits welled considerably, driven from the top, ably aide by non-core operations. Soneri Bank, unlike the bigger banks has a much higher ADR being in the 60s as of latest available numbers. But, one wouldn't be surprised, if that ratio changes for June end 2014, in favour of investments.
Jubilee Life Insurance has a long history of not failing to cheer its stakeholders. Double-digit profitability growth year after year has become more like a norm for this company. The result for the half year ended June 2014 buttressed the same sentiment with the company flattering a double-digit profitability growth of 51 percent year on year.