The longer oil prices remain weak, the higher will be the inventory losses and steeper will be the impact of falling crude oil prices on fuel margins such as that of furnace oil. The largest oil marketing company in the country felt the pinch on earnings for 9MFY15 which took a plunge of 83 percent year-on- year, while the same was in negative for the 3QFY15.
Here’s another outstanding improvement in quarter-on-quarter result. Nothing much has changed for Bank Al Habib and many other banks, of late. Profits keep coming, PIBs keep getting attention, CASA keeps improving – all is well. Bank Al Habib yesterday reported substantial increase in after tax profits, driven straight from the top line, which grew admirably. In the absence of detailed numbers, it is safe to assume the bulk came from return on investments.
Although cement sales have been on the uptrend in this fiscal, the domestic market appears to have cooled in the outgoing quarter. The quarterly results made public by Fauji Cement (KSE: FCCL) allude to the same market dynamic whereby quarter-on-quarter dispatches by the firm dropped, even though year-to-sales have registered an increase.
One of the largest polyester staple fibre (PSF) players in Pakistan, Ibrahim Fibres Limited has had to contend with a handful of challenges that seem to be compounding in recent times. The company issued financial results following close of third quarter.
Banks are having the time of their lives. That too, in a scenario where spreads are depressed; conditions are still not conducive for lending and a vigilant central bank is keeping an eye on spreads earned by banks. All thanks to banks’ own efforts to rationalize the deposit mix, but a bigger thanks to the borrower that is the government.
The economic trade-off between money and time endures. There will always be folks with a lot of money but little time. And there will be folks with little money but a lot of time. In the current technological era, the economic exchange taking place between these two has given rise to what is been referred to as an “on-demand economy”.
Don’t let the lower earnings fool you; Maple Leaf Cement has posted solid performance in the first nine months of this fiscal. Prices of both varieties of cement held firm and sales rose aggressively through the recently concluded quarter. The top line grew nine percent in 3QFY15 when compared to 3QFY14, and the sales tally for 9MFY15 has now grown to Rs15.06 billion.