Siemens Engineering net profit falls to Rs 1.3 billion
KARACHI (October 31 2009): The after tax profit of Siemens (Pakistan) Engineering Company has declined to Rs 1.365 billion in the year ended September 30, 2009 as compared to Rs 1.679 billion earned in the same period in 2008. The company's per share earning declined to Rs 165.53 in the period under review against Rs 203.60 in the same period a year back.
The board of directors of the company in its meeting held on Thursday recommended a final cash dividend for the year at Rs 60 per share ie 600 percent in addition to the interim dividend at Rs 30 per share ie 300 percent already paid, making a total payout for the year at Rs 90 ie 900 percent. The board also recommended that an amount of Rs 500 million should also be transferred to general revenue out of un-appropriated profit.
According to the financial results, the company's net sales and services increased to Rs 36.149 billion in this period against Rs 26.88 billion in the same period last year. The cost of sales increased to Rs 32.164 billion against Rs 22.850 billion. The company's before tax profit declined to Rs 2.144 billion in this period against Rs 2.564 billion last year.