Arif Habib earnings jump 115%, stand at Rs881m
Announces final cash dividend of Rs10 per share
Stock exchange. PHOTO: AFP
KARACHI:
Arif Habib Limited posted earnings of Rs881 million in FY17, registering an increase of 115% year-on-year. This was in contrast to earnings of Rs409 million reported in the previous year, according to a statement issued by Arif Habib Limited.
Earnings per share (EPS) increased to Rs16.01 in FY17 from Rs7.45 in the previous year.
Arif Habib Group to invest Rs25b in new cement plant
Apart from this, the company announced a final cash dividend of Rs10 per share compared to Rs7 per share in the previous year. Operating revenue jumped 45% year-on-year to Rs858 million compared to Rs590 million in FY16. The increase was due to the KSE-100 Index that provided a massive return of 23% in the year, attracting new investors in the wake of increasing confidence in the market. Administrative expenses surged 44% year-on-year to Rs386 million, which was directly proportional to the increase in the operating revenue.
A hopeful mogul: Arif Habib remains upbeat on corporate Pakistan’s future
On the other hand, finance cost dropped 17% to Rs138 million due to lower reliance on borrowing and reduced interest rates. The company booked effective taxation at 23% amid higher capital gains on the sale of investment.
Published in The Express Tribune, August 2nd, 2017.
Arif Habib Limited posted earnings of Rs881 million in FY17, registering an increase of 115% year-on-year. This was in contrast to earnings of Rs409 million reported in the previous year, according to a statement issued by Arif Habib Limited.
Earnings per share (EPS) increased to Rs16.01 in FY17 from Rs7.45 in the previous year.
Arif Habib Group to invest Rs25b in new cement plant
Apart from this, the company announced a final cash dividend of Rs10 per share compared to Rs7 per share in the previous year. Operating revenue jumped 45% year-on-year to Rs858 million compared to Rs590 million in FY16. The increase was due to the KSE-100 Index that provided a massive return of 23% in the year, attracting new investors in the wake of increasing confidence in the market. Administrative expenses surged 44% year-on-year to Rs386 million, which was directly proportional to the increase in the operating revenue.
A hopeful mogul: Arif Habib remains upbeat on corporate Pakistan’s future
On the other hand, finance cost dropped 17% to Rs138 million due to lower reliance on borrowing and reduced interest rates. The company booked effective taxation at 23% amid higher capital gains on the sale of investment.
Published in The Express Tribune, August 2nd, 2017.