Muhammad Sarfraz Abbasi

HOME PAKISTAN BUSINESS WORLD SPORTS LIFE & STYLE MULTIMEDIA OPINION MAGAZINE BLOGS URDU NEWS ALERTS   Mohallah Baqir S   Removal of NTN condition to broaden tax base: auto industry By  Farhan Zaheer Published: March 1, 2013 Sales of new cars have started increasing as fewer used cars are now being imported into the country. PHOTO: FILE KARACHI:  Domestic automobile industry has defended the government’s decision of abolishing the condition of providing national tax number (NTN) for purchase of a new car, saying instead of shrinking, the move will help broaden the tax net. The government on Thursday announced that anyone could purchase a new car by only showing his or her computerised national identity card (CNIC). Newly appointed Finance Minister Saleem Mandviwalla took this decision after meeting a delegation of auto assemblers of the country. “The rationale behind our support to this ...

FFC profit down 7pc From the Newspaper |  Our Equities Correspondent  | 24th January, 2013 KARACHI, Jan 23: The Fauji Fertiliser Company (FFC) announced results for the year ended Dec 31, 2012 on Wednesday posting profit after tax (PAT) at Rs20.84 billion, translating into earning per share (eps) at Rs16.4, down 7 per cent from PAT at Rs22.49 billion and eps at Rs17.7 the previous year. The board recommended final cash dividend at Rs5 per share, taking the full year payout at Rs15.50 per share. Analysts said that the earnings were mainly in line with expectations. However, some brokerages and investors who were expecting a bonus issue tied to the cash dividend, were disappointed. The share in FFC lost Rs1.77 to Rs118.59 at the KSE on a volume of 3.4 million shares. Topline Research stated the company’s revenue grew by 34pc to Rs74.3bn, primarily on the back of higher urea prices as the volumetric sales declined by 1pc. However, higher increase in the cos...

Added by  Baqar Abbas Jafri  on January 28, 2013. Saved under  CEMENT SECTOR ,  HEADLINES Tags:  Lucky Cement   0 in Share 0 Lucky Cement Limited reports a solid 42% YoY jump in earnings – Summit Research By: Muhammad Sarfraz Abbasi, Summit Capital (Pvt) Ltd. sarfraz.abbasi@summitcapital.com.pk The Board of Directors’ of the Lucky Cement Limited (LUCK) has announced 1HFY13 financial result today. The company has reported an outstanding upsurge in its earnings of 42% YoY to PKR4.92bn translating into an EPS of PKR13.27 in 1HFY13 as against the PAT of PKR3.02bn and EPS of PKR9.33 in the corresponding period last year. In our view, there were three key factors behind superb performance of the company i.e. 1) higher sales because of the higher prices, 2) higher other income and 3) decline in financial charges. During 1HFY13 the company has reported a hefty augment in its sales of 14% YoY to PKR17.51bn as against t...