Hascol Petroleum Limited Reports Unconsolidated and Consolidated Earnings Results for the Year Ended December 31, 2017; Approves Final Cash Dividend for the Year Ended December 31, 2017
April 02, 2018
Share
Hascol Petroleum Limited reported unconsolidated and consolidated earnings results for the year ended December 31, 2017. For the year, on unconsolidated basis, the company announced net sales of PKR 173.7 billion compared to PKR 99.5 billion for the same period a year ago. Net revenue was PKR 174.2 billion compared to PKR 99.7 billion for the same period a year ago. Operating profit was PKR 4.5 billion compared to PKR 3.1 billion for the same period a year ago. Profit before taxation was PKR 2.7 billion compared to PKR 2 billion for the same period a year ago. Profit for the year was PKR 1.4 billion compared to PKR 1.2 billion for the same period a year ago. Earnings per share, basic and diluted were PKR 10.70 compared to PKR 9.41 for the same period a year ago.
For the year, on consolidated basis, the company announced net sales of PKR 173.7 billion compared to PKR 99.5 billion for the same period a year ago. Net revenue was PKR 174.2 billion compared to PKR 99.7 billion for the same period a year ago. Operating profit was PKR 4.5 billion compared to PKR 3.1 billion for the same period a year ago. Profit before taxation was PKR 2.6 billion compared to PKR 2 billion for the same period a year ago. Profit for the year was PKR 1.3 billion compared to PKR 1.2 billion for the same period a year ago. Profit attributable to owners of the holding company from continuing operations was PKR 1.4 billion compared to PKR 1.2 billion for the same period a year ago. Profit attributable to owners of the holding company was PKR 1.35 billion compared to PKR 1.2 billion for the same period a year ago. Earnings per basic and diluted share from continuing operations were PKR 10.69 compared to PKR 9.31 for the same period a year ago.
The company approved final cash dividend for the year ended December 31, 2017 at PKR 3.50 per share, that is 35%. Together with the interim cash dividend of PKR 3.50 per share, that is 35%, already paid, the total dividend for the year 2017 will amount to 70% cash dividend, at the board meeting held on April 3, 2018.
Hascol Petroleum Limited is a Pakistan-based company. The Company is engaged in the business of procurement, storage and marketing of petroleum, chemicals, liquefied petroleum gas (LPG) and related products. Its purchase, storage and sale of petroleum products include high-speed diesel, gasoline, fuel oil and FUCHS lubricants. FUCHS lubricants customers cover diversified segments, including automotive commercial passenger vehicles, OEM, mining and exploration, engineering, metal working, agriculture and forestry, aerospace, power generation, construction, steel, cement, food, glass and miscellaneous industries. It has approximately 15 AutoMax LPG stations across Pakistan. The Company's products and services include Hascol fuel card, Hascol chemicals, non-fuel retail and aviation fuel business. The Company's wholly owned subsidiaries include Hascol Lubricants (Private) Limited and Hascombe Lubricants (Private) Limited.
Hascol Petroleum Limited Reports Unconsolidated and Consolidated Earnings Results for the Year Ended December 31, 2017; Approves Final Cash Dividend for the Year Ended December 31, 2017