LAHORE: In a notification to the Pakistan Stock Exchange (PSX) on Tuesday, Hascol Petroleum Limited declared its financial results for the year ended December 31, 2017, announcing a Net Profit After Tax (NPAT) of Rs1.33 billion, compared to Rs1.20 billion in 2016, up 10.8 per cent Year on Year (YoY).
The company also announced a 35 per cent final cash dividend of Rs3.50 per share.
“Together with the interim cash dividend of Rs3.5 per share i.e. 35 per cent already paid, the total dividend for the year 2017 will amount to 70 per cent cash dividend,” the notification read.
Net revenue for the year amounted to Rs174.2 billion up 74.7 per cent Year on Year (YoY), compared to Rs99.7 billion in 2016. Earnings Per Share (EPS) also increased to Rs10.7 in 2017, from Rs9.41 in 2016, up 13.7 per cent YoY.
On the other hand, expenses also saw an increase to Rs1.87 billion in 2017, compared to Rs1.11 billion in 2016 up 68.5 per cent YoY.
Hascol Petroleum Limited, incorporated in 2001, operates a network of approximately 400 retail fuel stations in Pakistan. It engages in the procurement, storage, and marketing of petroleum and related products that include fuel oils, diesel, gasoline, jet fuel, and liquefied petroleum gas. Under its FUCHS brand name, the company also produces and markets a range of lubricants and greases.
At the time of the filing of this report on Tuesday, Hascol Petroleum was trading at Rs264.10 on the PSX, down Rs1.90 or 0.71 per cent from the start of the day.
