Shell Gas profits down

Shell Gas (LPG) Pakistan announced an annual net profit of Rs50.3 million, which is 30 per cent lower than last year’s Rs72 million.

The company also did not declare any dividends, according to a notice sent to the stock exchange. Although sales for both years remained relatively the same at Rs1.42 billion and Rs1.44 billion for 2010 and 2009, respectively. Gross profit for 2010 was much lower at Rs78 million compared with Rs247 million in 2009. Earnings per share (EPS) have been registered at Rs2.22 per share, down from last year’s EPS of Rs3.19 per share.

Published in The Express Tribune, August 28^th, 2010.