POL, ARL and SSGC announce earnings

KARACHI: Pakistan Oilfields Limited (POL) has posted around four percent growth in profit after tax (pat) to Rs 3.865 billion in first half of current financial year over Rs 3.719 billion in the same period of previous year.

Company announced Rs 8 per share for the half year ended on December 31, 2008, a notice of Karachi Stock Exchange stated on Friday.

The earnings per share rose to Rs 16.34 in the period under review against Rs 15.72 in the previous year.

The net sales of the company also increased to Rs 8.653 billion in the said period as compared to Rs 7.905 billion in the previous year. The exploration costs jumped substantially to Rs 1.748 billion against Rs 117 million in the last year.

Attock Refinery Ltd: Attock Refinery Limited recorded Rs 689 million net loss during first half of current fiscal compared to profit after tax of Rs 1.632 billion in the previous year. This loss after tax translated into negative earnings per share of Rs 8.08 in the period under review against the positive eps of Rs 19.14 in the last year.

Although the net sales witnessed substantial growth to Rs 48.129 billion in the period under review as compared to Rs 37.244 billion in the previous year, however high cost of sales offset this growth in sales. The cost of sales rose to Rs 49.232 billion against Rs 35.620 billion in the last year.

Sui Southern Gas Co: Sui Southern Gas Company registered around 50 percent decline in its profit after tax to Rs 227.669 million in the half-year ended on December 31, 2008 over Rs 340.617 million in the previous year.

The earnings per share also dipped to Rs 0.34 against Rs 0.51 in the previous year ans profit before tax decreased to Rs 354.762 million against Rs 983.751 million in the previous year. The net sales stood at Rs 26.781 million, substantially higher over Rs 16.962 million in the previous year. staff report

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