LONDON: ITM Power announced a partnership with Hygen, being appointed as their preferred supplier for Proton Exchange Membrane (PEM) electrolysers for hydrogen projects within the UK and across Europe. Hygen’s goal is to implement up to 200 MW of electrolyser projects over the coming years across the UK and wider Europe, utilising ITM technology and…
Solar Foods raises an additional EUR8 million in new financing
LONDON: Agronomics (LSE:ANIC), a leading listed company focused on the field of cellular agriculture, announced that portfolio company Solar Foods Oy has raised an additional EUR8 million in funding via Finnish investment organiser Springvest Oyj. This additional funding is a subsequent close to Solar Food’s Series B round which took place in November 2023, bringing…
Computershare to acquire BNY Trust Company of Canada for $63.7 million
SYDNEY: Computershare Limited (ASX:CPU) has entered into a definitive agreement to acquire the BNY Trust Company of Canada from BNY Mellon (NYSE:BK). BNY Trust Company of Canada was established in 2001 and is based in Toronto. With a portfolio of around 1,800 corporate trust mandates, the business provides a range of trust and agency services…
Austco Healthcare signs deal to acquire Amentco Enterprise Group for $10.6m
SYDNEY: Austco Healthcare Limited (AHC:ASX) has officially announced the signing of a Share Purchase Agreement to acquire Amentco Enterprise Group Ltd., a renowned provider in the industry and a certified reseller of Austco’s Nurse Call systems. The agreement, which aligns with the terms outlined in the previously announced Term Sheet, positions Austco to take over…
AI Unleashed: Navigating the New Frontier in Corporate IT
In an era where technology evolves at breakneck speed, the role of the Chief Information Officer (CIO) has never been more pivotal. The latest insights from Lenovo’s third annual global CIO report, titled “Inside the Tornado: How AI is Reshaping Corporate IT Today,” shed light on a significant shift in focus for these IT leaders….
Attock Petroleum Profitability arrives at PKR 86.65/share in 9MFY24
Attock Petroleum Limited (APL) announced the financial result for 9MFY24, whereby the company has posted a net profit of PKR 10,780mn (EPS: PKR 86.65) against PKR 9,836mn (EPS: PKR 79.06) in 9MFY23, up by 10% YoY. During 3QFY24, the bottom-line settled at PKR 2,981mn (EPS: PKR 23.96), down by 31% YoY. Result Highlights AHL Pakistan…
Faysal Bank Limited posts 1QCY24 earnings of PKR 4.35/share
Faysal Bank Limited (FABL) unveiled its earnings (Profit After Tax) for the first quarter of CY24 today, standing at PKR 6.6bn (EPS: PKR 4.35). This marks a remarkable 100% YoY surge. However, it reflects a 17% QoQ decline compared to the EPS of PKR 5.23 in the fourth quarter of CY23. The bank’s earnings bolstered…
Pakistan Oilfields Limited earnings settled at PKR 105.47/share in 9MFY24
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…