Muhammad Sarfraz Abbasi

Engro Foods, Honda Atlas announce results Our Equities Correspondent   | Business |  From the Newspaper KARACHI: Engro Foods Limited announced profit after tax at Rs891 million for the year ended December 31, 2011, up by 407 per cent over Rs176 million earned the previous year. The figures translated into earning per share (eps) at Rs1.22 (basic and diluted) for the year 2011 as compared to eps of Re 0.31 in 2010. The company’s revenue for 2011 recorded an increase of 43 per cent to Rs30 billion compared to Rs21 billion in the 2010. The company contended that “Engro Foods continued to consolidate its growth through the year and during the first half of the year, in May 2011, the foods business raised Rs1.2 billion by issuing 48 million shares to the institutional investors mainly the US and UK mutual funds at a share price of Rs25 per share.” Regarding sector-wise performance, the company noted that in dairy, Engro Foods had continued its aggressive busine...

                                                                                                                              January 25, 2012 Honda Atlas posts loss of Rs143m LAHORE - Honda Atlas Cars (Pakistan) Limited (HCAR) has announced its 9MFY12, posting Loss After Tax (LAT) of Rs143m translating into a Loss Per Share (LPS) of Rs1 as against the LAT of Rs276m and LPS of Rs1.93 in the corresponding period last year due to decline in production and volumetric sales of the company. During the 9MFY12 total production of the company declined by 16 percent YoY to 9,900 units in comparison of 11,728 units produced by the company in the same period last year, t...

Corporate results: Earnings season kicks off By  Faseeh Mangi Published: January 25, 2012 Honda has managed to cut down its losses during April to December 2010 despite witnessing a sharp slowdown in sales. Honda Atlas Cars (Pakistan) Limited losses fell 48% to Rs143 million against Rs276 million in the same period last year, according to a notice sent to the Karachi Stock Exchange on Tuesday. The company faced sever constraints in the supply of parts during the period under review as floods in Thailand disrupted Honda operations worldwide including Pakistan, said Summit Capital analyst Muhammad Sarfraz Abbasi. The situation gradually aggravated and operations almost ground to a halt in December as the company failed to manufacture a single car in its assembly facilities owing to unavailability of parts. Production declined by 16% to 9,900 units compared with 11,728 units produced by the company in the same period last year. Starting the trickle d...

Thursday, January 12, 2012 Auto sales witness substantial growth of 21pc By:  Our Staff Reporter  |  January 12, 2012 |  0  Comments LAHORE - Auto sales of the industry witnessed a substantial growth of 21 percent YoY to 81,645 units in 1HFY12 as against the sales of 67,693 units in the corresponding period last year.  Pakistan Automotive Manufacturers Association (PAMA) has just released local automobile industry’s sales and production numbers for the month of December’11. In experts view, beside the low base effect, the substantial volumetric growth can be attributed to the incentive announced by the government to local auto manufacturers in terms of removal of Special Excise Duty (SED) of 2.5 percent on imported and manufactured vehicles coupled with reduction in General Sales Tax (GST) from 17 percent to 16 percent. As per the data, on monthly basis, industry sales have declined by 6 percent MoM to 11,185 units in the mont...

Car sales surge by 20.5 per cent Aamir Shafaat Khan   | Business |  From the Newspaper (13 hours ago) Today Nauman Khan of Top Line Securities said December 2011 sales declined as buyers preferred to defer orders due to year end phenomenon. - File photo KARACHI : Car sales in the first half of current fiscal year went up by 20.5 per cent amid negative developments including the government’s decision to impose a ban on CNG kits and cylinders, suspension in production of Honda Civic and City and increase in prices of all vehicles. According to figures shared by the Pakistan Automotive Manufacturers (PAMA), consumers purchased 12,240 more cars in July-December 2011 to 71,886 units as compared to 59,646 units in the same period of 2010. Increase in production of Suzuki Mehran and Suzuki Bolan for onward supply to Punjab government’s Yellow Cab Scheme was the main reason that averted the negative impact of ban on ...

Auto sector witnesses 21 percent growth in first half JANUARY 12, 2012 RECORDER REPORT 0 COMMENTS Auto sales of the industry witnessed a substantial growth of 21 percent on year-on-year basis to 81,645 units in the first half of FY12 as against the sales of 67,693 units in the corresponding period last year. Pakistan Automotive Manufacturers Association (PAMA) has released local automobile industry's sales and production numbers for the month of December 2011. "Besides the low base effect, the substantial volumetric growth can be attributed to the incentive announced by the government to local auto manufacturers in terms of removal of Special Excise Duty (SED) of 2.5 percent on imported and manufactured vehicles coupled with reduction in General Sales Tax (GST) from 17 percent to 16 percent", Sarfraz Abbasi, an analyst at Summit Capital said. Moreover, on monthly basis, industry sales have declined by six percent on month-on-mo...