KARACHI, Feb 16: Hub Power Company Limited (Hubco) announced an after tax profit at Rs1,267 million for the six months period ending December 31, 2005. The earnings represented a 52.5 per cent drop from the taxed profit of Rs2,668 million reported in the corresponding period last year.

Earning per share (eps) worked out at Rs1.09 as compared to Rs2.31 in the similar six months last year. The board of directors, which met in Karachi, also announced an interim dividend at Rs1.25 (12.5 per cent). Interim dividend will be paid to those shareholders whose names appear in the register of members at the close of business on March 16, 2006.

The profit and dividend came close to expectations of most analysts. Decline in profitability was foreseen due mainly to the reduction in tariff following repayment of senior debt in July 2005.