Hub Power Company profits totaled at 4.128 billion during the half year ending December 2017 according to the financial statements released by the company at the Exchange.
Hubco profits fell by 1.69% during the half year against the same period last year when total profits for the company from the discontinued and continuing operations clocked in at Rs. 4.199 billion. Company’s Turnover increased by 16.12% to 38.428 billion against last year’s tally of 33.851 billion.
Also, company’s gross margins increased by 3.71%, in tandem with 16.2% rise in Operating Costs.
At the board meeting held today in Karachi, Hub Power Board of Directors recommended an interim cash dividend for the half year ending December, 31 2017 a Rs. 1.50/- share i.e. 15%. This dividend is in addition to the interim dividend already paid at Rs. 1.5 per share i.e. 15%.
|
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 31st 2017 |
|||
|---|---|---|---|
|
Key Financials |
2017 |
2016 |
% Change |
|
Amounts in PKR ‘000 |
|||
|
Continuing Operations |
|
|
|
|
Turnover |
43,362,135 |
37,851,884 |
14.56% |
|
Operating Costs |
38,428,186 |
33,094,574 |
16.12% |
|
Gross Profits |
4,933,949 |
4,757,310 |
3.71% |
|
General and Administration Expenses |
458,737 |
320,473 |
43.14% |
|
Other Income |
816,795 |
25,487 |
3104.75% |
|
Other Operating Expenses |
39,780 |
– |
|
|
Profit from Operations |
5,252,227 |
4,462,324 |
17.70% |
|
Finance Costs |
1,054,003 |
894,089 |
17.89% |
|
Profit before Taxation |
4,198,224 |
3,568,235 |
17.66% |
|
Taxation |
69,538 |
– |
|
|
Profit after Taxation from Continuing Operations |
4,128,686 |
3,568,235 |
15.71% |
|
Discontinued Operations |
|
|
|
|
Profit after Taxation from discontinued Operations |
– |
631,376 |
|
|
Profit for the period from Continuing Operations |
4,128,686 |
4,199,611 |
-1.69% |
|
EPS – Basic and diluted |
|
|
|
|
Continuing Operations |
3.57 |
3.08 |
15.91% |
|
Discontinued Operations |
– |
0.55 |
|
Company release on Earnings Report can be accessed here.
