1HCY16: PTC’s profit up 49 per cent

KARACHI: Pakistan Tobacco Company’s (PTC) profit increased a staggering 49% to Rs7.07 billion in the half-year period ended June 30, 2016 on the back of higher sales, according to a bourse filing Wednesday.

The cigarette manufacturing firm earned a profit of Rs4.73 billion in the corresponding period last year.

Earnings per share amounted to Rs27.68 in the period under review, as compared to Rs18.53 in the corresponding period last year, the company said in a notification to the Pakistan Stock Exchange.

Board of directors recommended an interim cash dividend at Rs6 per share.

The share price fell by Rs30, or 2.51%, and closed at Rs1,160.50 with a turnover of only 140 shares.

In the Apr-June (2016) quarter alone, profit soared 60.5% to Rs4.25 billion from Rs2.65 billion in the same quarter in 2015.

Published in The Express Tribune, July 28^th, 2016.

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