Profit after tax of Engro increases

The profit after taxation (consolidated) of Engro Corporation has increased to Rs 6.441 billion in the year ended December 31, 2010 as compared to Rs 3.718 billion earned in the corresponding period in 2009. The company's earning per share increased to Rs 20.72 in the period under review against Rs 12.24 in the same period a year back.
The board of directors of the company in its meeting held on Monday recommended a final cash dividend for the year at Rs 2.00 per share ie 20 percent. Interim dividends totalling Rs 4.00 per share ie 40 percent have already been paid making a total of Rs 6.00 per share or 60 percent. The board also recommended issuing bonus shares in the ratio of one share for every five shares held ie 20 percent. The said bonus shares shall not be eligible for the dividend declared for the year ended December 31, 2010.
According to the financial results sent to Karachi Stock Exchange (KSE), the company's net sales increased to Rs 79.975 billion in 2010 against Rs 58.152 billion in 2009. The cost of sales increased to Rs 59.702 billion against Rs 44.658 billion. The company's profit before taxation increased to Rs 8.277 billion in 2010 as compared to Rs 5.062 billion in 2009.