PICT posts Rs2.12b profit, up 22%
Board recommends interim cash dividend of Rs6 per share
KARACHI:
Pakistan International Container Terminal Limited’s (PICT) profit increased 22% to Rs2.12 billion in nine months ended September 2016 with strong support from increased revenue and decreased finance cost, according to a bourse filing on Tuesday.
The terminal operator had earned a profit of Rs1.74 billion in the same period last year.
Earnings per share (EPS) stood at Rs19.44 in Jan-Sept 2016 compared to Rs15.99 in the corresponding period of previous year.
The company’s board of directors recommended an interim cash dividend of Rs6 per share. The entitlement will be given to those shareholders whose names will appear in the register of members on November 8, 2016.
PICT’s share price increased 3.53%, or Rs12.62, and closed at Rs370 with a thin volume of 200 shares at the Pakistan Stock Exchange.
Revenue rose 10% to Rs7.13 billion in Jan-Sept 2016 against Rs6.46 billion in the corresponding period of last year. Finance cost fell 60% to Rs38.83 million from Rs94.68 million in Jan-Sept 2015.
Cost of services dropped to 49.72% (or Rs3.54 billion) of the revenue from 51.87% (or Rs3.35 billion) in the previous year.
Sept quarter
In the Jul-Sept quarter, the company earned an after-tax profit of Rs714.78 million (EPS Rs6.55), which was 10% higher than Rs649.57 million (EPS Rs5.95) in the same quarter of last year.
The growth in profit in the quarter remained lower than the nine-month period because of comparatively lower sales and higher service cost.
Published in The Express Tribune, October 26th, 2016.
Pakistan International Container Terminal Limited’s (PICT) profit increased 22% to Rs2.12 billion in nine months ended September 2016 with strong support from increased revenue and decreased finance cost, according to a bourse filing on Tuesday.
The terminal operator had earned a profit of Rs1.74 billion in the same period last year.
Earnings per share (EPS) stood at Rs19.44 in Jan-Sept 2016 compared to Rs15.99 in the corresponding period of previous year.
The company’s board of directors recommended an interim cash dividend of Rs6 per share. The entitlement will be given to those shareholders whose names will appear in the register of members on November 8, 2016.
PICT’s share price increased 3.53%, or Rs12.62, and closed at Rs370 with a thin volume of 200 shares at the Pakistan Stock Exchange.
Revenue rose 10% to Rs7.13 billion in Jan-Sept 2016 against Rs6.46 billion in the corresponding period of last year. Finance cost fell 60% to Rs38.83 million from Rs94.68 million in Jan-Sept 2015.
Cost of services dropped to 49.72% (or Rs3.54 billion) of the revenue from 51.87% (or Rs3.35 billion) in the previous year.
Sept quarter
In the Jul-Sept quarter, the company earned an after-tax profit of Rs714.78 million (EPS Rs6.55), which was 10% higher than Rs649.57 million (EPS Rs5.95) in the same quarter of last year.
The growth in profit in the quarter remained lower than the nine-month period because of comparatively lower sales and higher service cost.
Published in The Express Tribune, October 26th, 2016.