Pakistan Oilfields Limited (POL) announced its financial result today, posting a profit after tax of PKR 29,939mn (EPS: PKR 105.47) during 9MFY24 compared to PKR 30,588mn (EPS: PKR 107.76) in 9MFY23, down by 2% YoY. On a quarterly basis, net profit during 3QFY24 arrived at PKR 12,361mn (EPS: PKR 43.54), down by 24% YoY. Result…
OpenGate Capital sells SMAC to Compagnie Financière Jousset
OpenGate Capital, a prominent global private equity firm, has successfully completed the sale of SMAC, a leading French provider of waterproofing and building envelope systems. The acquisition was made by Compagnie Financière Jousset (CFJ) in partnership with the management team of SMAC. The financial details of the deal remain undisclosed. Founded in 1884, SMAC has…
Fauji Fertilizer Bin Qasim profit arrives at PKR 3.33/share
Fauji Fertilizer Bin Qasim Limited (FFBL) announced financial result for 1QCY24 today where the company registered a net profit of PKR 4,306mn (EPS: PKR 3.33) against a loss of PKR 5,429mn (LPS: PKR 4.20) in 1QCY23 which is primarily due to absence of hefty exchange loss during the quarter. Result Highlights Millat Tractors Limited profitability…
Millat Tractors Limited profitability up by 2x to at PKR 13.63/share in 3QFY24
Millat Tractors Limited (MTL) announced its financial result for 9MFY24 today, posting a PAT of PKR 7,860mn (EPS: PKR 40.98), up by 3.7x YoY. During 3QFY24, the profitability of the company clocked in at PKR 2,631mn (EPS: PKR 13.63) compared to a profit of PKR 1,280mn (EPS: PKR 6.67) in 3QFY23, up by 2x YoY….
Engro Corporation profitability climbs up by 23% YoY
Engro Corporation Limited (ENGRO) announced its 1QCY24 financial result, posting a consolidated net profit of PKR 5,719mn (EPS: PKR 10.66) compared to PKR 4,647mn (EPS: PKR 8.66) in 1QCY23, up by 23% YoY. Alongside the result, the company announced an interim cash dividend of PKR 11.00/share in 1QCY24 (PKR 40.00/share in 1QCY23). Result Highlights AHL…
Kohat Cement Company 3QFY24 earnings recorded at PKR 10.51/share
Kohat Cement Company Limited (KOHC) announced its financial result for 9MFY24 today, posting a PAT of PKR 6,512mn (EPS: PKR 33.25) compared to a PAT of PKR 5,363 (EPS: PKR 26.91) in SPLY, up by 21% YoY. During 3QFY24 earnings clocked in at PKR 2,058mn (EPS: PKR 10.51) against PKR 1,624mn (EPS: 8.29), showcasing a…
Attock Cement Pakistan 3QFY24 earnings arrived at PKR 1.30/share
Attock Cement Pakistan Limited (ACPL) announced its financial result for 9MFY24 today, posting a PAT of PKR 2,219mn (EPS: PKR 16.14) compared to PKR 1,057 (EPS: PKR 7.70) in SPLY, a jump of 110% YoY, mainly owed to gain on sale of the subsidiary ‘Saqr AL Keetan for Cement Production Company Limited’. During 3QFY24 earnings…
Maple Leaf Cement Factory profitability declined by 20% in 9MFY24
Maple Leaf Cement Factory Limited (MLCF) announced its financial result for 9MFY24 today, posting a PAT of PKR 5,374mn (EPS: PKR 5.01) compared to a PAT of PKR 6,185mn (EPS: PKR 5.76) in SPLY, down by 13% YoY. On a quarterly basis, the earnings settled at PKR 1,505mn (EPS: PKR 1.40) in 3QFY24 vis-à-vis PKR…
Astek secures euro 560 million financing, partners with ICG to accelerate growth
Astek, a titan in the realm of technology consulting, has declared a significant bolstering of its financial prowess. This strategic enhancement is aimed at propelling the company’s ambitious growth trajectory and its proactive strategy of judicious acquisitions. In a display of confidence and commitment, ICG, a stalwart investor known for its long-term strategic partnerships, has…
Mining giants BHP and Anglo American evaluate merger
Rejection of BHP Proposal LONDON, UK: BHP Group has confirmed its intention to pursue a historic merger with Anglo American. On April 16, 2024, BHP proposed an all-share offer that would see Anglo American shareholders receive 0.7097 BHP shares for each Anglo American share, alongside a pro-rata distribution of shares in Anglo American Platinum Ltd…
MYTILINEOS eyes international expansion with potential London Stock Exchange listing
MYTILINEOS Energy & Metals, the Greek industrial powerhouse, has announced a strategic review of its options, including a potential listing on the London Stock Exchange. This decision comes as the company celebrates a period of remarkable growth, with revenues and profitability quadrupling in the past five years. The company, which has been a staple of…
AstraZeneca reports 19% increase in Q1 2024 revenue to $12.67 billion
LONDON: AstraZeneca has kicked off the year with a remarkable 19% increase in Total Revenue, reaching $12.679 billion in the first quarter of 2024. The pharmaceutical giant attributes this surge to an 18% rise in Product Sales and sustained growth in Alliance Revenue from its partnered medicines. The company’s financial health is further evidenced by…