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KESC, Shell and HUBCO post profits

KARACHI: Karachi Electric Supply Corporation (KESC) has posted a net loss of Rs 6.275 billion in the half year ended on December 31, 2007 as compared to Rs 5.547 billion in the same period of last year.

According to a notice of Karachi Stock Exchange (KSE) on Wednesday, KESC’s revenue jumped to Rs 26.275 billion in the period under review compared to Rs 22.537 billion for the same period a year ago.

Operating losses rose to Rs 5.208 billion during the half year ended on December 31 over Rs 4.928 billion in the same period of previous year whereas expenditures (purchase of electricity along with consumption of fuel and oil) also jumped to Rs 34.527 billion from Rs 30.089 billion in the same period of last year.

Earnings per share of the company also moved up to Rs 0.48 from Rs 0.43 in the previous year.

Shell Pakistan: Shell Pakistan has posted Rs 1.689 billion in the half year ended on December 31, 2007, reflecting phenomenal increase of almost 330 percent over Rs 393 million in the same period of last year.

According to notice of KSE on Wednesday, company also declared an interim dividend of Rs 10 per ordinary share of Rs 10 each (100 percent).

The earnings per share of the company also rose to Rs 30.83 in the last six months of 2007 from Rs 7.19 in the corresponding period of previous year whereas the profit before tax jumped to Rs 2.342 billion compared to Rs 786 million in previous year.

The sales of the company moved up to Rs 69.583 billion in the period under review as compared to Rs 65.409 billion in the same period of last year.

Hubco: The board of directors of the Hub Power Company (Hubco) has announced interim dividend at Rs1.15 per share.

According to financial results of the company on Wednesday, net profit for the six months ended on December 31, 2007 rose to Rs 1.339 billion from Rs 1.248 billion in the same period of last year. Earnings per share of the company also jumped to Rs 1.16 from Rs 1.08 whereas turnover stood at Rs 26.786 billion compared to Rs 19.726 billion for the previous year. staff report

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