PSO profit rises 63pct in FY11

Pakistan State Oil Limited (PSO) has showed a tremendous performance during financial year and reported healthy profits as its earnings after tax depicts outstanding growth of 63.1 percent to Rs 14.78 billion for the year ended on Jun 30, 2011.

PSO Earnings per share have reached to Rs 86.17 as compared to Rs 52.76 same period last year.

PSO has also announced final cash dividend of Rs. 2 per share i.e. 20 percent in addition to already paid Interim dividend of Rs 8 per share 80 percent.

Sales turnover of company increased by 10.47 percent to Rs 820.530 billion against Rs. 742.757 billion. On the other hand, cost of production advanced by 10.18 percent to Rs 786.250 billion and gross profit grew by 17.53 percent to Rs 34.280 billion during the period.

From: Halaal Tamweel