Pakistans leading shoe company, Bata Pakistan (PSX: BATA) opened the year on a decent note. Although, the shoemaker has seen a slight decline in its sales, the company has reported a healthy bottom-line to end the first three months of 2016.
If you're a Punjabi who enjoys pakoras in Ramadan, we have some bad news for you - there isn't enough vegetable ghee to go around in your province. At the time of writing, the current stock of palm oil (used in manufacturing vegetable ghee) is only enough to last a month from now, and more isn't on the way. If this upsets you and you're looking for someone to blame, know why you should blame your government.
Eurozone is still flirting with deflation. Part of the explanation behind that is the colossal slump in oil prices since 2014. Many analysts initially believed that savings on their energy bills would persuade the Europeans to spend more, thus energizing their economies. But there is weak demand at home. And low commodity prices have been hampering external demand, too.
Over the years, Engro Foods (EFOODS) has become known for giving surprising results and once again it has proven this notion correct. The Milk Company yesterday has announced a 6 percent decline to Rs 11.7 billion in its first quarter result ending March 2016. It is indeed a disappointment if one compares it with 1QCY15 when their top line grew by 25 percent year-on-year.
National Foods Limited (PSX: NATF), one of the major consumer goods company in Pakistan has once again shown that the love affair with the countrys urban population. On Tuesday, the company announced its 9MFY16 results, with a healthy 16 percent year-on-year top line growth on the back of volumetric growth.
Mari Petroleum Company Limited (PSX: MPCL) has been aggressive in its exploration activity. Just recently, the E&P Company announced a significant oil discovery in Karak block, making it third discovery in the ongoing fiscal year.
Having given Rs16/share as dividends last year, MCB Bank has continued its rich history of high payout. The bank announced an interim dividend of Rs4/share for 1QCY16 to go with a consolidated EPS of Rs5.50.