KARACHI – The profit after tax (PAT) of Engro Corporation Ltd came down by six percent to Rs7.80 billion for 2014 from Rs8.32b in the previous year while earnings per share fell to Rs13.59 from Rs15.29.
Its board announced final cash dividend at Rs4 per share, taking the total payout for the year to Rs6 per share. The figures beat analysts’ expectations of eps at Rs12.50 and dividend at Rs2 per share.
Deducting the profit attributable to non-controlling interest amounting to Rs794 million for 2014 and Rs507m the year earlier, the profit attributable to equity holders amounted to Rs7.01bn for 2014, down 10pc from Rs7.82bn in 2013. The corporation will also be seeking approval of its shareholders to subscribe to Rs2.25bn worth of preference shares to be issued by its subsidiary, Engro Polymer and Chemicals Ltd.
