Engro Foods (EFOODS) announced their first quarter result yesterday, and boy what a performance they have shown. The company’s sales jumped a whopping 25 percent to Rs12.6 billion in the first quarter ending March 2014. This is indeed an impressive performance if we compare it with 1QCY13 when their top line only grew 4 percent year-on-year.
Another month of current account surplus but without CSF support this time around. The surplus thinned to $163 million in March from $872 million in February and the difference is explained by $717 million of Coalition Support Fund in February. Rest is attributed to falling oil prices and growing remittances. Current account deficit for 9MFY15 is reduced by 46 percent to $1.5 billion and the third quarter has shown a surplus of $961 million.
When the incumbent government first took office, tall claims about pouring foreign direct investment were part of its manifesto. Since then government has apparently been making many efforts to mobilise FDI.
Times might have been tough for the banking sector, but for the investors of Soneri Bank there is less to worry. The bank made a fantastic start to CY15 as its bottom line boasted a heartening rise of 104 percent year-on-year in 1QCY15.