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Weekly Review: Market ends week sustained by corporate results
In the absence of significant triggers, earnings announcements dictate trends.
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Corporate results: Fauji Fertilizer Bin Qasim’s profitability improves over previous quarter
Although earnings are down 70% YoY, company does 44% better on sequential basis.
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Corporate results: Engro Foods earnings skyrocket, profits 300% higher than last year
Improvement attributable to higher sales and improved gross margins over the year.
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Corporate Results: MCB Bank profits a modest 7% higher than last year
Bank declares a cash dividend of Rs3 per share, taking total payouts in 9MCY12 to Rs10.
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Ploughing through : Bullish sentiment pulls KSE to all-time high
Becomes second stock market to breach previous record since global financial crisis.
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Corporate results: PTCL’s consolidated earnings grow 36% over the year
However, unconsolidated profits decline 3% year-on-year2012.