Stocks Observer. com

ByAbdul Qadir Qureshi The Board of Directors of Engro Foods Limited has announced a profit after tax of Rs. 891 million for the year ended, December 31, 2011 as compared to Rs 176 million in 2010.   Engro Foods’ revenue for 2011 recorded an increase of 43% and stood at Rs. 30 billion as compared to Rs. 21 billion in the 2010. The Company also announced an EPS of Rs. 1.22 (basic & diluted) for the year 2011 as compared to EPS of Rs 0.31 in the year 2010.  Engro Foods continued to consolidate its growth through the year and during the first half of the year, in May 2011, the foods business raised Rs. 1.2 billion by issuing 48 million shares to the institutional investors – mainly the US & UK mutual funds – at a share price of Rs. 25 per share. The Company’s vision to enhance its footprint and pursue a focused growth strategy led to the first-ever public offering of 27 million shares of the business to the general public at a price of Rs. 25 per share, inclusi...