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HomeEquityHub Power Company Ltd. profits fall 1.69% to Rs. 4.128 billion

Hub Power Company Ltd. profits fall 1.69% to Rs. 4.128 billion

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%.

Comparison of Key Financials

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.

Posted on: 2018-02-19T12:48:00+05:00
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