Engro Foods

Earnings dented by lower-than-expected gross margins

Increase comes on back of rise in net sales of the company

Engro Foods joins hand with IFC to promote sustainable living for dairy farmers

Profit-after-tax reported at Rs209.97m for April-June

Director says company committed to play its role in bringing economic stability, empowering nation

Gross margins are the worst for a second-quarter result

EPS fall to Rs0.43 during Jan-Mar, down from Rs1.45 in 2016

Company earned Rs2.38b in 2016 compared to Rs3.16b in previous year

Govt has imposed 17% tax on inputs of dairy sector, slapped additional 25% regulatory duty on imported powdered milk

Benchmark KSE 100-share Index settles at record high of 47,210

Final price will be calculated after adjustment for debt and cash within 40 days

Bids will be received today (Thursday) for purchase of 40% stake in PSX

Profit amounts to Rs633m during July-September period

Will pay Rs151.85 per share and buy 49.8m shares from general public

Says Engro has taken a great initiative to help farmers

Revenues show a drop of 5.7% to Rs23.3b for Jan-Jun

Minority shareholders are likely to see selling stake to FrieslandCampina will be beneficial in the long run

Engro Corporation currently controls around 87% shareholding in Engro Foods while general public owns rest of shares

Earnings up 4%, result higher than market expectations

Aims to meet growing demand, streamline its food business

FrieslandCampina International Holding BV intends to acquire a 51 per cent stake of Engro Foods Limited

Amounts to Rs3.2b; fourth-quarter performance below expectations

Local foods giant posts after-tax profit of Rs1.9b for 1HCY15