“Anything that can go wrong will go wrong”, Murphy’s Law is surely applying on the PMLN’s government. There is another dent on the macroeconomic stability as the Supreme Court has rejected government’s petition against the Peshawar High Court’s ruling of declaring Gas Infrastructure Development Cess Act unconstitutional.
Bad times are not yet over for Pakistan Reinsurance (KSE: PAKRI)! The financial result announced by the company yesterday showed a 15 percent year-on-year slump in 1H CY14 profitability. But with the treaty business on the mend, the company seems to be on the roads to recovery.
Good times keep rolling roll for the packaged foods industry. Earlier this week, Nestle Pakistan amazed its shareholders with a 33 percent bottom line boost for 1H CY14. Now it’s Unilever Pakistan Foods Ltd’s (KSE: UPFL) turn to charm. The company’s half-yearly financials sent to the KSE yesterday show that UPFL has achieved profit margins that are superior to its closest competitors (Nestle and Engro Foods), on the back of comparatively better margin accretions over previous year.
Ever since the ongoing political crisis showed its first signs, Pakistan Petroleum Limited’s stock has been outdoing the benchmark index. This has been the case since the company’s secondary public offering in July 2014; thanks to which, the government garnered Rs15.98 billion.
In times of squeezing spreads, to have a 24 percent year-on-year growth in NIM is indeed commendable. Bank Al-Habib Limited (KSE: BAHL), one of the soundest mid-tier banks, reported its 1H CY14 financial results yesterday, showing sizeable profit growth, mainly on account of a smart asset and liability mix strategy.
Seemingly, the country’s only international cement manufacturer-–Lafarge Cement Pakistan Limited (KSE: LPCL)-–has left its recent acquirer, Bestway Cements (BWCL), with more work to do on the sales front. As sales for LPCL remained stagnated during the first half of the current year, earnings came down sharply by almost 50 percent.
For Lotte Chemical (LOTCHEM), it’s been a downhill journey since 2010. The year so far isn’t better than the last. The company reported its first half 2014 financial results yesterday, reflecting a 56 percent increase in net losses over 1H CY14.