Pakistan General Insurance Company Reports Strong Fiscal Performance and Commitment to Corporate Governance

Karachi, The Pakistan General Insurance Company Limited detailed a robust fiscal year, marked by significant recovery and strategic achievements in its annual report for the year ending December 31, 2023. The company reported a dramatic turnaround from a prior loss, posting a profit after tax of Rs. 70,456,536 compared to last year’s loss of Rs. 28,791,613. This performance was buoyed by a substantial fair value gain on the sale of investments, which rose from a loss of Rs. 2,300,000 in 2022 to a gain of Rs. 117,818,330 in 2023.

In its economic review, the company noted improved global economic conditions in 2023, despite ongoing challenges in Europe and China. Fitch Ratings revised the global growth forecast upward, largely due to robust consumer spending and private-sector financial health in the United States.

On the governance front, the company reaffirmed its adherence to stringent corporate governance standards, complying with both the Listed Companies (Code of Corporate Governance) Regulations 2019 and the Code of Corporate Governance for Insurance Companies 2016. It stressed the board’s effective role in steering the company through complex market dynamics, with comprehensive frameworks for assessing board performance, including strategic planning, financial oversight, and stakeholder engagement.

Additionally, the company highlighted its commitment to corporate social responsibility, maintaining its status as an equal opportunity employer and taking various initiatives to fulfill its societal roles.

The company's auditors, M/s Mushtaq & Co. Chartered Accountants, provided a qualified audit report for the financial year and were proposed for reappointment for the subsequent year.

HBL Growth Fund Announces Financial Results

Karachi, HBL Growth Fund has announced its financial results for the year ending June 2024. The fund reported a daily weighted average rate of Rs. 6.99 with a paid-up capital of Rs. 2,835.00 million. The distribution for the period was 12% with a market lot of 500 shares and a par value of Rs. 10. The fund has been listed since 1980. The previous book closure was on June 7. The turnover for the period was 3,782,000 shares. Earnings per share (EPS) data was not available.

Pakistan Paper Products Limited Reports Healthy Gains

Karachi, Pakistan Paper Products Limited today reported a share price of Rs. 68.32 and an EPS of Rs. 11.13 for the January-April 2024 period. The company declared a 40% dividend along with a 35% interim dividend. The trading turnover was reported at 395,500, showcasing steady financial health and investor interest.

Tri-Star Mutual Fund Reports Annual Figures

Karachi, Tri-Star Mutual Fund has reported its annual figures for the year ending June 2024. The fund recorded a daily weighted average rate of Rs. 4.47 with a paid-up capital of Rs. 50.00 million. There was no distribution for the period, and the market lot was 500 shares with a par value of Rs. 10. The fund has been listed since 1994. The previous book closure was on October 23. The turnover for the period was 252,000 shares. The earnings per share (EPS) for the period was recorded at a negative Rs. 3.26.

Roshan Packages Ltd. Reports Modest Financials

Karachi, Roshan Packages Ltd. disclosed an EPS of Rs. 1.06 for the current period. The company's share price peaked at Rs. 14.39, with a trading turnover of 32,239,000. A 10% dividend was announced, reflecting modest financial growth and shareholder returns.

B.F. Modaraba Reports Negative EPS of Rs. 0.80 for 2022/2023

Karachi, B.F. Modaraba (BFM), with the symbol code NC on the Pakistan Stock Exchange, disclosed a negative EPS of Rs. 0.80 for the fiscal year 2022/2023. Established in 1989, BFM has experienced fluctuations with a daily weighted average rate peaking at Rs. 75.15 and a low rate of Rs. 5.90. The company holds a paid-up capital of Rs. 33,000 million and has not declared any dividends for the year.

Security Papers Ltd. Announces Impressive Dividend

Karachi, Security Papers Ltd. reported a strong market performance with a share price of Rs. 140.20 and an EPS of Rs. 16.33. The company declared a 110% dividend, supplemented by a 25% interim dividend, indicating robust financial health. The turnover for the period was recorded at 1,424,015.

Synthetic Products Ltd. Records Steady Growth

Karachi, Synthetic Products Ltd. reported a share price of Rs. 14.40 and an EPS of Rs. 2.47 for the period ending April 2024. The company announced a 15% dividend following a 10% bonus share distribution. A turnover of 13,462,000 was noted, signifying steady growth and continued investor interest in the firm.

Equity Modaraba Posts No Available Earnings Data

Karachi, Equity Modaraba 1st (EM), with the symbol NC, did not provide available earnings data for the current period. Listed in 1992, EM has a significant paid-up capital of Rs. 109,500 million and a notable high share rate of Rs. 524.40.

Punjab Oil Mills Ltd. Announces Financial Performance and Dividends

Lahore, Punjab Oil Mills Ltd. (NC) reported its financial results for the fiscal year ending in June. The company announced a 20% dividend and an additional 20% bonus, reflecting strong financial health. The daily weighted average rate of the company's stock stood at Rs. 77.62, with a high rate of Rs. 108.11. The paid-up capital was recorded at Rs. 843.19 million. The company achieved an EPS of Rs. 5.54 for the period from January to April 2024.

Habib Modaraba Announces Financial Results

Karachi, Habib Modaraba has announced its financial results for the period ending June 2024. The company's rate stood at Rs. 15.20, with a paid-up capital of Rs. 1,108.31 million. The annual distributions for 2022 and 2023 were both at 20%, with the par value at Rs. 10. The company's market lot remained at 500 shares, and its previous book closure was on October 17, 1985. The earnings per share for the period January to April 2024 were reported at Rs. 2.34.