The PBS numbers for the new fiscal year are here and rice exports are still largely suppressed; for the first month of FY17, total rice exports are flat year-on-year in quantity terms, while in dollar terms the decline is 8 percent over last year.
Servis Industries (PSX: SRVI) announced its half year 2016 results which exceeded market expectations by a fair distance. Servis Industries earning per share for HY16 came in at 58.94 up a colossal 25 percent compared to last year. The result was accompanied by a healthy dividend for 15 rupees per share.
After enjoying high oil price era, current times are stinging for oil and gas exploration and production companies. The countrys largest E&P company, Oil and Gas Development Company Limited (PSX: OGDCL) continued with its second year trend of falling revenues. The E&P giants top line stood at Rs162.87 billion- lowest in at least 6 years.
Once upon a time Pakistan used to export a few goods to the outside world. Today, after all the macroeconomic stabilization that Finance Minister Ishaq Dar loves to tout about, Pakistan's exports have only become fewer. Is that the price of stability?
Hub Power Company Limiteds (PSX: HUBC) stock outperformed the benchmark index through most of FY16, and its financial performance also posted steady growth in FY16. The stock price rally has been partly due to increased operational efficiency and lower operational and maintenance costs of the IPP.
It seems that the formal shoe industry of Pakistan has finally gained the ground they lost due to fierce competition both from Chinese imports and informal sector. Nation's top shoe company, Bata Pakistan (PSX: BATA) yesterday announced its half yearly result and reported a healthy growth in both its top line and bottom line.
Cherat Cement (PSX: CHCC) is one of those cement players that have gradually demonstrated strength, with a solid growth in top line over the years, being the first in the industry to have the foresight to expand; recognizing the local demand dynamic that will come into play over the next few years. The company posted an 8 percent growth in sales for FY16 (FY15: 2%) clocking at Rs7 billion and a 9 percent growth in the bottom line (FY15: -2%) earning Rs1.4 billion in the outgoing fiscal despite a hefty bump in taxes. The company also paid a cash dividend of Rs2.25 per share (22.5%), in addition to an interim dividend of Re1 per share (10%).