PSO reports profit, declares 50 % dividend

KARACHI: Pakistan State Oil (PSO) has posted a higher profit after tax of Rs 7.130 billion during the half year ending December 31, 2010 as against Rs 5.083 billion same period last year and declared the first interim cash dividend of Rs 5 per share.

According to financial results sent to Karachi Stock Exchange (KSE) here Wednesday, the company has earned a profit before tax of Rs 6.051 billion for the period under review as compared to Rs 7.882 billion in the corresponding period 2009.

The earning per share surged to Rs 41.58 during July-Dec 2010 against Rs 29.64 in July-Dec 2009.

PSO's sales climbed to Rs 427.090 billion as compared to Rs 413.935 billion same period last year.