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Company News: Pakistan


BR Research: How is the Employers' Federation of Pakistan structured; and what is its mandate?

Island Textile Mills Limited (KSE: ILTM) is a public limited company incorporated in Pakistan on May 20, 1970, under the Companies Ordinance, 1984. It is listed on the Karachi Stock Exchange. The company is one of the constituent members of a large industrial group of companies-TATA group
Fauji Cement Company (FCCL) has announced FY14 profit of Rs 2.6 billion (EPS of Rs 1.8) as against Rs 2.1 billion (EPS Rs 1.4) in last year, up 25 per cent. According to Topline Securities, the financial results of the FCCL are also accompanied by final cash dividend of Rs 0.75 per share, taking total dividend to Rs 1.5 per share for the year.
Engro Corporation on Wednesday announced its First Half (1H) results where strong performance of its fertilizer and commodity trading businesses were kept in check by a challenging business environment in its rice, polymer and food businesses. On a consolidated basis, Engro Corporation recorded a 16 percent increase in revenue from Rs 66,874 million in 1H13 to Rs 77,541 million in the current reporting period.
Incorporated in 2005, TPL Direct Insurance Limited is a subsidiary of TPL Holdings Private Limited. Associate companies of TPL Direct include TPL Trakker, TPL Properties, TPL Security Services, Trakker Energy and TPL Financial Consultancy. The company is involved in auto insurance, home insurance, health and travel insurance. Armed with an asset size of Rs 1.16 billion, the company is also listed on Karachi Stock Exchange having a market capitalisation of Rs 712 million.
Bank Al-Falah Limited (BAFL) has announced 1H2014 profits of Rs 2.6 billion (EPS Rs 1.9) compared to Rs 1.9 billion (EPS of Rs 1.4) in 1H2013, up 34.3 per cent. During the period, the bank's Net Interest Income (NII) increased by 21.7 per cent YoY to Rs 9.6 billion. Though the banking spreads averaged 6.1 per cent in 1H2014 against 6.3 per cent in 1H2013, the NII got a support from higher yield on increasing PIB portfolio of banks and rising credit growth.
Hub Power Company (HUBC) has announced unconsolidated earnings of Rs 5.66 per share for FY14, depicting a decline of 30.2 per cent YoY as compared to the EPS Rs 8.11 recorded in the same period last year. This result is accompanied with final cash dividend of Rs 4.00/share, taking full year payout to Rs 6.5/share.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln