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After a few tough years, Packages Ltd (KSE: PKGS) is back to profitability, putting in another round of better performance at the end of 1H CY14. But, it didn’t start auspiciously. The company’s top line declined to Rs7.9 billion at the six-month mark. Both domestic sales and export sales during 1H CY14 were, to some extent, stunted, actually slithering on quarter-on-quarter basis.
While most pharmaceutical companies in Pakistan are finding themselves in deep waters, Abbot Laboratories Pakistan seems to have the ability to buck the trend.
For Kohinoor Energy, FY14 has been another good year as the power company continued to benefit from higher fuel savings throughout the year. Kohinoor’s fuel savings stemmed from better plant utilisation and ensuing efficiencies. While full-year plant utilisation levels aren’t available as yet, the firm’s power plant had operated at 80.28 percent capacity during 9M FY14 compared to 64.53 percent capacity during 9M FY13.
The toughness in IMF's attitude during the current facility is in sharp contrast to the funds approach in the previous standby facility to Pakistan. The stringent approach stems from twelve equal tranches this time around as compared to lumpy payments in the last arrangement.
After an impressive 2013, Engro Corp's performance in first half CY14 slipped below market expectations.
An ADR in excess of 80 percent is unheard of in recent memory. But NIB Bank Limited still does a commendable job of lending more than investing; though aggressive lending comes attached with risks and NIBs thin spreads tell a tale. It will be premature to comment on the balance sheet status, but a single-digit top line growth perhaps shows that NIB may not have heavily invested in PIBs, as opposed to the recent industry practice.
Positive news from the cement sector continues as financial results are now rolling out. Riding on robust demand and increased capacity utilisation, players in the sector have also pursued expansion plans lately.


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln