Last update: Thu, 11 Feb 2016 03am

BR Research: All


Colgate Palmolive Ltd (KSE: COLG) after performing decently in the first quarter has ended the six-month period on a high note. It seems that COLG has started slowly to move away from its dependency on the other income but still the significant portion of its revenue comes from that. According to a company notice to the PSX, yesterday, the consumer goods giant showed an improvement in its revenue.
In the previous fiscal while most domestic cement manufacturers were enjoying higher sales, growth for Kohat Cements (PSX: KOHC) top line had been stunted due to obstruction of its mining operations "by local mischiefs during December 2014".
Of all the things the country's textile industry suffers from, a lack of integration is one of the most fundamental issues. There is a clear disconnect in the value chain; the different segments take the form of business lobbies that have mutually exclusive and, at times, opposing interests. This divide is most evident between APTMA and the downstream value-added sector.
An independent monetary policy committee was finally formed through legislative process after amending the SBP act, 1956. This was a long awaited condition of the IMF and finally the committee is formed as an independent body. However, experts fear that the MPC is merely formed on papers and most of its members decisions one way or the other will be influenced by the Ministry of Finance.
Ever wondered why buying or building a property is increasingly getting out of hands - even for upper middle income groups. While lack of mortgage finance is one reason, the biggest reason is that real estate has increasingly become the parking lot for untaxed and/or black monies over the course of years.
The stock market sent Fauji Fertilizer Companys (FFC) shares down by nearly 3 percent yesterday, after the fertilizer giant announced its full year CY15 financial results. The 8 percent year-on-year decline in profits did not come as a surprise, but the investors are not generally attuned to FFCs profits going down. FFC continued with its rich history of high payout, taking the full year payout ratio to 90 percent.
With half the fiscal year gone, there still seems to be no turnaround imminent for the textile industry; total textile exports for the month of December were down over 11 percent year-on-year. Although there is an improvement over the previous month, be mindful that November was one of the worst months for the textile industry (Read: "Textile exports new low," Published on December 23, 2015).