Corporate Alert: HUBCO declares a Dividend of Rs. 2.50/- per share and reports an EPS of 8.29/- for the period ended June 30, 2017

HUBCO announced Financial Results for the ended June 30, 2017.

The company’s Turnover for the period increased by 9 percent in the outgoing year, whereas the Profit after Taxation for the Period decreased by 10 percent.

The board has recommended an interim Cash Dividend for the year ended June 30, 2017 at the rate of 25% i.e. Rs 2.50/- per share. This is in addition to the interim dividend already paid at Rs. 5.00/- per share i.e. 50%. The board issued no bonus or right shares.

Comparison of Key Financials:

Unconsolidated Profit and Loss Account – For the Six Months Ended

Key Financials

Jan – June, 2017

Jan – Jun, 2016

% Change

Turnover

78,589,767

71,925,328

9%

Operating Costs

69,272,692

61,489,986

13%

Gross Profit

9,317,075

10,435,342

-11%

General and Admin: Expenses

615,204

759,628

-19%

Other Income

1,557,042

1,439,122

8%

Other operating expenses

76,754

425,284

-82%

Profit for Operations

10,182,159

10,689,552

-5%

Finance Costs

1,783,632

1,415,794

26%

Profit before Taxation

8,398,527

9,273,758

-9%

Taxation

142,434

147,494

-3%

PAT

8,256,093

9,126,264

-10%

Discontinued Operations

   

PAT from Discontinued Operations

1,343,980

2,449,541

-45%

Profit for the year – continued and discontinued

9,600,073

11,575,805

-17%

EPS

8.29

10.00

-17%

Continuing Operations

7.13

7.89

-10%

Discontinued Operations

1.16

2.11

-45%

Amounts in PKR ‘000

The complete statements can be accessed here.

Posted on: 2017-08-17T12:16:00+05:00