KARACHI: The profit of Wyeth Pakistan Ltd surged 718 per cent on an annual basis to Rs793 million for the nine-month period ending on June 30, according to a stock notice on Tuesday.

Earnings per share rose to Rs558 from Rs68. The board also announced a cash dividend of Rs300 per share.

The entire profit for nine months came from “discontinued operations” as the sale of assets to ICI Pakistan contributed Rs722m to the bottom line.

On the other hand, “continuing operations” yielded a loss of Rs2.7m against a profit of Rs3.9m last year. Net sales decreased 15.4pc to Rs865m from Rs1.02 billion. Selling, marketing and distribution expenses also rose to Rs133m from Rs121m.

Its share lost Rs109 to close at Rs2,081 on the Pakistan Stock Exchange.

GILLETTE PAKISTAN LTD: The company reported a loss of Rs193m for 2016-17, which is 6.6 times higher than the loss posted a year ago.

Net sales of the firm declined 3.6pc to Rs1.83bn. But the blow came from “other operating expenses”, which jumped to Rs99m from Rs19m. Other income for the year also amounted to Rs12m, down from Rs28m earned last year.

SHEZAN INTER­NATIO­NAL LTD: The company’s profit rose 33.5pc to Rs259m for 2016-17 with earnings per share amounting to Rs32.47.

Its board declared a dividend of Rs13.50 (135pc) for the year.

Net sales edged higher by 5.9pc to Rs7.2bn. Its gross profit remained Rs2.1bn against Rs1.9bn a year ago. The gross profit margin imp­roved to 29.2pc from 28pc last year.

Published in Dawn, September 27th, 2017