KARACHI: As per latest data released by National Electric Power Regulatory Authority (NEPRA), total electricity generation during June 2019 registered 2.0 percent YoY increase to 13,157Gwh against 12,914Gwh in the corresponding month of last year. “Slender rise in electricity generation during the month is primarily attributed to notable improvement in coal & RLNG based generation…
Author: NNR
Attock Petroleum Limited records 30% decline in profits
KARACHI: Attock Petroleum Limited (APL) unveiled its FY19 financial results with profit after tax at PKR3.96 billion (EPS PKR39.79) versus PKR5.66 billion (EPS PKR56.83) recorded last year, down 30%YoY. Earnings of the company arrived above expectation owing to higher than estimated gross level margins in 4QFY19 likely on the back of inventory gains booked by…
Pakistan Oilfields posts 48% growth in profits
KARACHI: Pakistan Oilfields Limited (POL) unveiled its FY19 profit after tax at PKR16.87 billion (EPS PKR59.44) versus PKR11.38 billion (EPS PKR40.10) registered during last year, depicting a notable increase of 48%YoY. Net earnings of the company arrived above estimates primarily due to lower than estimated exploration expenses (-31%YoY) & higher than anticipated other income (+120%YoY)….
Pakistan’s pharma companies take a hit as border with Afghanistan closed and fenced
KARACHI: The pharmaceutical manufacturers are anticipating a significant decline in sales, as the border with Afghanistan was closed stopping informal export of medicine to the neighboring country, an industry official said. “Only our company used to send medicines worth approximately Rs1.0 billion to Afghanistan through informal channels,” an official of a local pharmaceutical manufacturing company…
Gaz du Cameroun to supply 25 mmscfd of gas to 150MW Douala Power Station
LONDON: Victoria Oil & Gas Plc, announced that its whose wholly-owned subsidiary, Gaz du Cameroun has signed a non-binding term sheet with Aksa Enerji Uretim to supply Aksa Energy with up to 25mmsfd of gas to Aksa Energy’s planned 150MW power station, to be located in Bekoko, Douala, Cameroon. The Term Sheet is subject to…
Hamish Paton appointed CEO of Amigo Holdings
LONDON: Amigo Holdings PLC, the leading provider of guarantor loans in the UK, confirms Hamish Paton has been appointed as CEO and executive director of the Company with immediate effect, following FCA authorisation. Following the above change the total number of Directors will consist of four independent Non-Executive Directors, including the Chairman and two as…
Future Plc acquires SmartBrief for $45 million
LONDON, UK: The Board of Future plc, the global platform for specialist media, announced the acquisition of SmartBrief Inc., a leading US based digital media publisher, for an initial sum of $45 million. The initial $45 million will include a cash consideration of $32.2 million funded from the Group’s existing debt facilities, with a further…
Thomas McLain appointed President and Chief Commercial Officer of Renalytix AI
LONDON, UK: Renalytix AI plc, a developer of artificial intelligence-enabled diagnostics for kidney disease, announced the expansion of its leadership team with the appointment of diagnostic industry leader Thomas McLain as President and Chief Commercial Officer, effective immediately. In this non-Board role, McLain will be responsible for leading the commercial programme for KidneyIntelX™ with a…
Agreement signed between Yumei Technology and Nakareg International Company
SINGAPORE: The Board of Directors of Advanced Systems Automation Limited announced that Yumei Technology Sdn Bhd, a wholly-owned subsidiary of the company, has entered into an agreement with Nakareg International Company Limited, whereby Yumei Technology is appointed as the business partner of Nakareg to manufacture steel trailer wheels. The total investment cost for the project…
Kazatomprom announces first Capital Markets Day
LONDON, UK: JSC National Atomic Company, Kazatomprom, announced its first Capital Markets Day, which will be held in London, United Kingdom, the afternoon of September 30, 2019, at the London Stock Exchange. Kazatomprom will be represented by members of its Management team, as well as members of the Board of Directors. A more detailed agenda…
Aura Energy completes Tiris Uranium Definitive Feasibility Study
LONDON: Aura Energy Limited notified that the Tiris Uranium Definitive Feasibility Study (DFS) has been completed and has confirmed the Tiris Uranium Project as a low capital cost and low operating cost development opportunity. “The completion of the Tiris Uranium Project Definitive Feasibility Study has concluded that the project possesses both a very low capital…
AC Energy’s partner to take over Kauswagan coal plant
SINGAPORE: AC Energy and Power Partners Ltd. signed a binding agreement for the transfer of AC Energy’s indirect ownership interest in the 4x135MW coal-fired power project in Kauswagan, Lanao del Norte (GNPK Project) in favor of Power Partners. Power Partners is AC Energy’s existing developer-partner in the GNPK Project. The transfer will be implemented in…