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BR Research: All


When the company reported a less than impressive bottom line for 9MFY15, BR Research had highlighted that the company?s performance had in fact remained strong during the period. The major dent to its earnings had been due to a high effective tax rate.
Things are turning around for the Lahore-based lease-finance software maker. Compared to a top line slump of 30 percent year-on-year in FY14, NetSol Technologies Limited (KSE: NetSol) closed FY15 with a solid 47 percent expansion in net revenues. The firm still posted a net loss amounting to nearly 7 percent of sales, but the extent of losses have been visibly minimized when looked at in light of previous years.
The governments cannot be run by one or two personalities. Dar and Shahbaz Sharif are two leaders on the front managing in a mutually exclusive way as their own ego clashes confront collective management.
The country has been grappling with market reform, privatisation, liberalisation, and restructuring of the power sector due to its inefficiencies, bureaucracy, mounting circular debt, poor liquidity, and lack of infrastructure and accountability. As arduous as it may be, meeting these challenges are the key for progressing to the ideal market model for power sector.
Sunday might have been Defence Day and the spectacular airshow paid rich tribute to our armed forces, but lets not forget that yesterday (September 08) was World Literacy Day - an area where the country has failed miserably: Pakistan is home to the second-highest number of out-of-school children in the world. This means that every twelfth out-of-school child in the world is a Pakistani.
Cement sales in the country grew by about 3.3 percent in FY15 and the top line growth reported by Lucky Cement for the same period is in-line with this trend. Exports from the country have suffered and like other manufacturers, Lucky Cement has also seen sales overseas fall. However, it managed to beef up domestic dispatches to cover the weakness in exports.
Lately, farmers around the country are agitating over shrinking margins in the sector. The story is simple - output prices are heading south as globally commodities are under stress whilst lack of fiscal space to subsidize inputs is pushing input prices north.


Index Closing Chg%
Arrow DJIA 16,790.19 0.08
Arrow Nasdaq 4,748.36 0.69
Arrow S&P 1,979.92 0.36
Arrow FTSE 6,326.16 0.43
Arrow DAX 9,902.83 0.90
Arrow CAC-40 4,660.64 0.95
Arrow Nikkei 18,186.10 1.00
Arrow H.Seng 21,831.62 0.10
Arrow Sensex 26,932.88 0.55

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln