KARACHI: Despite better cash flow, Shell Pakistan Limited has posted an after tax loss of Rs1.067 billion for the year ended in December 2014, as compared to a profit of Rs1,061 million during the previous year.
But buoyed by better cash flow, including reimbursement of Rs937 million in overdue receivables from the government, directors announced a cash dividend of Rs8 per share – twice what was handed out in 2013.
Shell Pakistan Chairman Omar Sheikh said, “We took a Rs4 billion hit in the shape of inventory loss during the year,” adding that Rs3 billion came during the fourth quarter (October-December 2014) alone.
