Lucky Cement earnings plunge

KARACHI: Lucky Cement posted 1HFY20 unconsolidated profit after tax (PAT) at Rs1.94 billion and earnings per share (EPS) at Rs5.99.

This represented a decrease of 65pc from PAT at Rs5.50bn and EPS Rs17.01 in corresponding period last year.—Equities Correspondent

Fauji Fertiliser profits jump

KARACHI: Fauji Fertiliser Company declared 2019 PAT at Rs17.1bn (EPS: Rs13.45), higher by 19pc over PAT at Rs14.4bn (EPS: Rs11.35) for the previous year.

The board declared a final cash dividend at Rs3.25 per share, which was in addition to the interim payout of Rs7.55 per share.—Correspondent

Azko Nobel to buy back shares

KARACHI: Akzo Nobel Pakistan on Friday announced its intention to buy back 11.2m shares comprising 24.19pc of the paid-up capital of Akzo.

The company proposed to go into voluntary delisting. In a material information statement filed with the PSX, it stated that the majority shareholder ICI Omicron B.V which is the wholly owned subsidiary of AkzoNobel N.V, intends to obtain full ownership of Akzo Pakistan. The minimum purchase price has been determined at Rs194.47 per share.—Correspondent

EP Systems to operate as EMI

KARACHI: The State Bank of Pakistan on Thursday allowed Systems Limited subsidiary EP Systems to operate as electronic money institution.—Staff Reporter

Published in Dawn, January 31st, 2020