Hum Network Limited (HNL) is struggling in gaining, the similar financial momentum it has enjoyed in FY15. As per the nine-month result (ending March 31, 2016) announced to the PSX on Friday, HUM has shown a decline in its earnings by 40 percent in year-on-year comparison despite the fact that the Network has shown a 7 percent year-on-year growth in its revenue during the nine-month period.
Much of global attention is affixed on the United States presidential election this fall. After all, an alternative leadership seems to be emerging there. Its leading lights are figures who are navigating away from the mainstream, presenting ideas that are radical, but sometimes leave a bad taste. The attention they are getting is warranted; given what is at stake is the gavel of the "leader of the free world".
National Bank of Pakistan (NBP) keeps defying the odds. The largest public sector bank posted its 1QCY16 financial results yesterday, showing an impressive 23 percent year-on-year growth in after-tax profits. Recall that the ongoing banking result season has seen most banks posting depressed earnings, owing to a variety of reasons, but NBP seems to have stood out.
The oil and gas exploration and production sector is desperately waiting for a respite! Its been a fall in earnings, quarter after quarter. Pakistan Petroleum Limited (PSX: PPL) has too been a victim of lower crude oil prices.
The key factor affecting Hub Power Company Limited's (PSX: HUBC) earnings over the last couple of years has been the operations and maintenance (O&M) activity. FY14 was a year of overhaul at the IPP ensuing in tepid growth in the firm's bottom line. Absence of any major overhauls and repairs in FY15 lifted the annual earnings. And though it seemed that HUBC's financial performance will be once again marred by high O&M charges after weak earnings in 1HFY16, it pleasingly recovered in 9MFY16 due to a better latest quarter.
Unit sales for Pakistan Suzuki Motors reportedly contracted slightly in the first three months of this year however recent price hikes announced by the company have ensured that its top line for the first quarter managed to register a slight improvement.
There is a misconception amongst the economic intellectuals and media commentators on the law of sending money outside the country. The general perception is that there are restrictions on remitting foreign exchange by Pakistan residents.