Engro Declares A Positive Performance, Posts Profit Of Rs 6.91 Bln


Engro declares a positive performance, posts Profit of Rs 6.91 Bln

ISLAMABAD, (UrduPoint / Pakistan Point News - 19th August, 2016) : Engro Corporation on Friday announced a profit- after-tax of Rs6.91 bln for the first half ended June 30, 2016, representing earnings per share at Rs 10.54. The company's profits were down 28pc from Rs9.56bn (eps Rs15.28) on a year-on- year basis.

The board of directors announced second interim cash dividend of Rs7 per share,taking the first half dividend payout to Rs12 per share. The decline in earnings for 1H16 was attributed to decline in top line and 4 percentage points increase in effective tax rate.

The decrease in top line was due to a weak performance of its fertilizer business, a statement of the company issued here said.