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Company overview GlaxoSmithKline Pakistan Limited, the largest pharmaceutical company in Pakistan was incorporated in 2002. GSK Pakistan was formed with the merger of Smith Kline & French Pakistan Limited and Beecham Pakistan (Pvt.) Limited with Glaxo Wellcome Pakistan Limited. Primarily, the company operates in two industry segments: pharmaceuticals (prescription drugs & vaccines) and consumer healthcare (over-the-counter- medicines, oral care & nutritional care). The company manufactures and markets ethical based specialities, other pharmaceutical, animal health and consumer products. GSK Pakistan is the subsidiary of Setfirst Limited UK with 79% stake, whereas its ultimate parent company is GlaxoSmithKline plc, UK. ‘GlaxoSmithKline Plc’ the parent company GlaxoSmithKline Plc is a British multinational pharmaceutical, biological and healthcare company. GSK Plc came into existence with the merger of Glaxo Wellcome and SmithKline Beecham in January 2000. Presently, GSK Plc ...

KARACHI: MCB Bank, having a huge investment portfolio, also announced its financial results, which had been delayed because of impairment values treatment problem. MCB Bank depicted a negligible 0.71 percent growth in profit to Rs 15.374 billion in 2008 from Rs 15.265 billion in 2007, according to a notice issued by the Karachi Stock Exchange (KSE) on Monday. It announced 25 percent cash dividend and 10 percent bonus shares. The earnings per share (EPS) stood at Rs 24.47 for the year under review compared with Rs 24.30 in the previous year. The profit before tax stood at Rs 21.867 billion in 2008 compared with Rs 20.808 billion in the previous year. The bank’s income on account of markup/return/interest jumped to Rs 40.043 billion in 2008 from Rs 31.785 billion in 2007. Operating expenditure saw substantial increase to Rs 23.967 billion from Rs 16.926 billion in the previous year.

KARACHI: Positive rally continued at the Karachi stock market amid witnessing of intense buying activities as result announcements of major blue chip companies remained favourable Monday. After allowance of impairment loss adjustment to equity, investors sentiments remained positive throughout the day and NIT State Enterprise Fund and other institutional buying supported the market with fresh funds. The Karachi Stock Exchange (KSE) 100-share index gained 150.83 points or 2.68 percent as it closed at 5,776.73 compared to 5,625.90 points traded in the previous session. The KSE-30 index also gained 212.31 points and closed at 5,894.20 points compared to 5,681.89 points of the previous session. KMI-30 index gained 226.57 points and closed at 7,738.68 points compared to 7,512.11 points of the previous session. The market turnover went up by 11.00 percent and traded 180.31 million shares as compared to previous session’s 162.43 million shares. The overall market capitalisation went up by 2.3...