October 26, 2017

Engro Corporation announces PAT of PKR 11,646 Mn

ISLAMABAD, Oct 26 :The profit-after-tax (PAT) from continuing operations (i.e. excluding Engro Foods) increased from Rs. 8,727 million to Rs. 11,646 million – up by 33%. Partial divestment of fertilizers and foods businesses during 2016 as well as adverse taxation changes introduced through Finance Act 2017 resulted in decrease in the profit attributable to shareholders from PKR 8,583 million in 9M16 to Rs. 6,916 million in 9M17.Engro Corporation Thursday announced its 3rd Quarter results showcasing a strong overall performance in its businesses, a press release said here. Profitability was augmented by the steady performances of terminal services and power, fertilizer, petrochemicals and the signing of major financial agreements for SECMC.On a consolidated basis, Engro Corporation’s revenue was PKR 86,431 million for the first three quarters of 2017, a 20% decrease from PKR 107,834 million for the comparative period last year. The reduction is due to the fact that Engro Foods results are no longer consolidated in Engro Corporation results as a consequence of its partial divestment late in 2016. Excluding Engro Foods turnover of the previous period, revenue grew by 18%. Improved market fundamentals throughout the period resulted in improved profitability in the fertilizer and petrochemicals businesses. Engro Corporation’s long-term rating was upgraded to AA while maintaining a short-term rating of A1+.

October 26, 2017

Peshawar Eagle wins 5-A-side Super League Hockey trophy

PESHAWAR, Oct 26 :Peshawar Eagle clinched the trophy after defeating Peshawar Lions in a thrilling final of the 5-A-side Super Hockey League played here at Lala Ayub Hockey Stadium on Thursday. Director General Sports KP Junaid Khan was the chief guest on this occasion. Chief P&D Hamid Khan, Secretary KP Hockey Association Syed Zahir Shah, former Inspector General of Police Muhammad Saeed Khan, Haji Hidayat Ullah, coaches Yasir Islam, Zia Ur Rehman, players and officials were also present. The match was started on fast tempo and Peshawar Lions took the lead through right winger Ismail in the 7th minute and he did 2-0 when he scored another goal through field attempt. Imtiaz scored the third goal through field attempt. On the other hands for Peshawar Eagle Jawad and Junaid scored in goal each while it was in the dying moment when Junaid sounded the board with his forceful hit from the D area. In the Under-16 category Qisa Khawani Club defeated Civil Quarters club by 2-1. Umair scored both the goals for Qisa Khawani while for Civil Quarters club Sami Ullah reduced the margin. In the Seniors category Peshawar Yellow defeated Peshawar Blues by 5-4. For Peshawar Yellow Sami Ullah made the first hat-trick by scoring three consecutive goals on the field attempts and Fawad Khan scored the fourth and fifth goal to make the tally 5-0 at the end of the first session play. It was the second session in which Peshawar Blues staged a strong comeback and reduced the margin by scoring four goals. For Peshawar Blues international full-back Zahid Ullah scored two goals on penalty corner conversion while Junaid also scored two goals on the field attempt. The match provided great thrill as both Peshawar Yellow and Peshawar Blues. Speaking on this occasion, Director General Sports Junaid Khan lauded the organizing committee for holding the event in which special focus was given to the semi-drill, short-passes and stick work. He said the govt is very keen and that is why work is in progress on Qazi Mohib Hockey Stadium, Abbottabad while efforts afoot to have new playing facilities in all across Khyber Pakhtunkhwa. He said a hockey turf would be laid in the premises of Kabal ground Swat and Abdul Wali Khan Stadium Charsadda while work on hockey ground in Buner, Dera Ismail Khan have already been kicked off

October 26, 2017

Fast Cables Wins One of the Most Coveted International Certifications For Quality, Reliability & Safety

The Governor of Sindh, Mr. Mohammad Zubair and Mr. Kamal Mian, Director of Fast Cables officiated at the unveiling ceremony of KEMA Gold Certifications at the Future Summit held in Karachi on Tuesday, 24 October. KEMA Gold is an internationally recognized certification awarded by the world renowned KEMA Laboratories of Holland for product quality, reliability and safety. Fast Cables is the first Pakistani Electrical Cable manufacturer to qualify for the coveted award making the brand synonymous with international quality standards.

In his address to the summit, attended by 300 top company executives, Governor Sindh Mr. Mohammad Zubair congratulated Fast Cables for their achievement saying that the KEMA Gold Certification award is a source of great national pride as it places Pakistani products at a par with the very best available in the international cable industry.

In his address to delegates, Mr. Kamal Mian of Fast Cables reiterated his company’s firm commitment towards meeting the highest international standards in cables manufacturing. He added that in this endeavor Fast Cables has invested in and adopted the latest technologies available in the world, in the process becoming the first Pakistani manufacturer of cables to adopt CCV (Catenary Continuous Vulcanization) technology to meet the stringent international quality standards.

Mr. Kamal Mian said, “Our endeavors do not stop at just ensuring the world’s best standards but also extend to ensuring that our customers get the genuine cables. In this context he cited the introduction of “Fast Tasdeeq” an SMS verification service aimed at empowering the customer to verify the genuineness of the products.

KEMA Gold Certification is the highest level certification awarded only when a product achieves 100% rating in the tough electrical and mechanical testing.