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Site update: February 24 2021, at 17:45 PKST
Stock update: February 24 2021.

Recent Financial News in the 'company-news' category

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Wednesday, February 24 2021

Byco profit rises 4.5 times
KARACHI: Byco Petroleum Pakistan Ltd reported financial results for the six months ended Dec 31, 2020 recording stellar growth of 4.5 times in profit-after-tax (PAT) to Rs961 million translating into earnings per share (EPS) at Rs0.18, from PAT at Rs213m and EPS at Rs0.04 in the comparable period of the previous year. In a press statement, the company’s CEO Mr. Amir Abbassciy, commented: “Byco expects that discussions between the Government of Pakistan and oil refineries will be productive in developing a long overdue refining policy”. Meezan Bank earnings jump 46pc Meezan Bank Ltd on Feb 18 announced that it posted a PAT of Rs22.17bn and EPS at Rs15.67 for the year ended Dec 31, 2020, showing impressive growth of 46pc from PAT at Rs15.23bn and EPS at Rs10.77 in the earlier year on the enhanced capital of Rs14.147bn.
Related news categories: business company-news economic-indicators misc oilgas-marketing psx refinery stock-exchanges
Related symbols: byco (news stock)

Monday, February 22 2021

DOL achieves 118 metric tons production after successful plant expansion
LAHORE -Descon Oxychem Limited (DOL) successfully and safely completed its capacity enhancement, achieving a target of 118 metric tons per day production. The project was completed within the given timeframe and approved budget. With the capacity enhancement, the company aims to meet the growing demand of consumers. The state-of-the-art manufacturing facility supplies customised chemicals for textiles, food, and beverage safety including other industrial and consumer sectors. Over the past few years, DOL has secured the position as the market leader while representing Pakistan in the global market. With the increased production, the company aims to serve the growing local demand mainly for premium quality and high concentration grades of hydrogen peroxide used in various products.
Related news categories: business chemical company-news economic-indicators fertilizers misc psx stock-exchanges
Related symbols: dol (news stock)

Bank of Punjab earned Rs12b profit before tax during year 2020
LAHORE-A meeting of the Board of Directors of The Bank of Punjab (BOP) was held on Friday. During the meeting, annual audited financial statements of the bank for the year ended December 31, 2020 were approved by the Board. While reviewing the financial performance of the bank for the year 2020, the Board expressed its satisfaction over bank’s overall financial performance and noted with pleasure that despite economic slowdown in the country due to COVID-19 pandemic, the bank has been able to post commendable financial results with Rs.12.0 billion profit before tax. During the year 2020, balance sheet grew by 26% and crossed level of Rs. 1.0 trillion. The Board appreciated the efforts of BOP team for remarkable performance and also announced and recommended a cash dividend of 10.00% for shareholders for the year 2020 as against 7.50% announced for the year 2019.
Related news categories: business comm-banks company-news economic-indicators misc psx stock-exchanges
Related symbols: bop (news stock)

Friday, February 12 2021

MCB BoD declares final cash dividend of Rs15 per share
LAHORE - The Board of Directors of MCB Bank Limited (MCB) met under the chairmanship of Mian Mohammad Mansha on February 10, 2021 to review the performance of the bank and approve the financial statements for the year ended December 31, 2020.The Board of Directors has declared final cash dividend of Rs 15.0 per share i.e. 150% bringing the total cash dividend for the year ended 2020 to 200%. During the year 2020, MCB achieved significant financial growth by focusing on its operational resilience and continuity planning to successfully navigate through the downside risks posed to operating and economic outlook by the COVID-19 outbreak while concurrently playing a central role in supporting governments’ key pandemic responses for credit extension and provision of essential banking services to the general public.
Related news categories: business comm-banks company-news economic-indicators misc psx stock-exchanges
Related symbols: mcb (news stock)

Tuesday, February 09 2021

Amreli earns Rs312m
KARACHI: Amreli Steels Ltd (ASTL) reported profit-after-tax (PAT) of Rs312.37 million and earnings per share (EPS) at Rs1.05 for the 2QFY21. It took the 1HFY21 PAT to Rs423m and EPS at Rs1.42. The results represented a turnaround from loss after tax (LAT) for the 2QFY20 at Rs232m and loss per share (LPS) at Rs0.78. The comparative figures for the 1HFY20 stood at LAT at Rs313.47m and LPS at Rs1.06. No dividend was disbursed but the latest results were generally thought to be better than market expectations. Jahangir nominated ambassador for RDA HabibMetro has signed squash world champion Jahangir Khan as the ambassador for its Roshan Digital Account (RDA), said a press release.
Related news categories: business company-news economic-indicators engineering misc psx stock-exchanges
Related symbols: astl (news stock)

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