Corporate results: Abbott Lab reports Rs1.5b profit

KARACHI:

On the back of strong quarterly performance, Abbott Laboratories Pakistan boosted its net earnings by nearly a tenth during six months ending on June 30, 2015, the company’s financial results revealed on Monday.

The maker of Mospel, a mosquito repellant, reported an after-tax profit of Rs1.5 billion or Rs15 per share in the first half of 2015, up 11% compared to Rs1.3 billion or Rs13.6 per share it earned in the same period last year.

The revenues for the period increased by 5% to Rs9.8 billion compared to Rs9.3 billion it grossed during the first six months of 2014, according to a notice sent to the Karachi Stock Exchange. On a quarterly basis, the results were even better as the company’s earnings increased by 30% to Rs909 million or Rs9.3 per share compared to Rs697 million or Rs7.12 per share it earned in the April-June quarter of 2014. 

Published in The Express Tribune, August 18^th,  2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.