ISLAMABAD: The Board of Directors of Shell Pakistan Limited announced the half year 2021 financial results on Thursday. The company posted a profit after tax of Rs2,150 million compared to the loss of Rs7,873 million made in the same period last year.
The first half of 2021 saw a significant recovery compared to a very tough last year. The encouraging turnaround is mainly driven by improved business performance focusing on strategic priorities such as differentiated fuels and lubricants, cost efficiencies and safety for employees and customers.
During this period, the Mobility business signed a Memorandum of Understanding (MoU) with K-Electric Limited, to jointly pilot Electric-Vehicle Charging Stations across Karachi and its connecting highways. The Lubricants business has been powering Pakistan's progress in construction, textile and mining through uninterrupted supply of high-quality lubricants. In addition, an affordable premium product in the motorcycle engine oil category was launched namely Advance Fuel Save 10W-30.
During the meeting on August 26th, the Board of Directors of Shell Pakistan Limited appointed Waqar Siddiqui as the Chief Executive Officer of the Company effective November 01, 2021. Waqar Siddiqui will succeed Haroon Rashid who will resign effective November 01, 2021 having served as Chief Executive Officer for 3 years and as a Board Director since 2011.
Copyright Business Recorder, 2021
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