The rise in profit can be attributed to improvement in profit from associated companies.
PHOTO: FILE
The company reported earnings per share of Rs20.72, an improvement of 18% compared to Rs17.55 last year. The company also approved cash dividend of Rs4.75.
The rise in profit can be attributed to improvement in profit from associated companies and lower tax rate this year as compared to previous year.
PSO’s profit dips 15% to Rs15.46 billion
The company’s sales increased by 11%, from Rs76.3 billion last year to Rs84.7 billion in this year. AHL Research has attributed the increase in standalone sales to rupee depreciation, increase in prices of value-added products and improvement of export demand.
According to Topline Research, key risks for the company are prolonged rupee stability, poor cotton crop, increase in regulatory duties on imported raw material and commodity volatility.
Published in The Express Tribune, September 27th, 2018.
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