Author Topic: ABOT -- Abbot Laboratories Pakistan Ltd.  (Read 39990 times)

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um@ir

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ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #-1 on: October 06, 2008, 02:37:01 PM »
All About Abbot Laboratories Pakistan Ltd.
« Last Edit: February 15, 2012, 10:56:03 AM by M&M »

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ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #-1 on: October 06, 2008, 02:37:01 PM »

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« on: September 28, 2009, 11:14:23 AM »
28-SEP-09 ABOT Abbott (Lab) FINANCIAL RESULT FOR THE NINE MONTHS ENDED 30/06/2OO9
28-SEP-09 ABOT Abbott (Lab) PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 756.177
28-SEP-09 ABOT Abbott (Lab) PROFIT/LOSS AFTER TAXATION RS. IN MILLION 544.525
28-SEP-09 ABOT Abbott (Lab) EPS = 5.56

Toshi

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #1 on: November 13, 2009, 09:04:19 PM »
ABBOTT LABORATORIES PAKISTAN LIMITED - Analysis of Financial Statements November 2007 - November 2008

OVERVIEW (November 13 2009): Abbott Laboratories is a highly diversified global healthcare company devoted to discovery, development, manufacture and marketing of pharmaceutical, nutritional and medical products, including the devices and diagnostics.

The company is principally engaged in the manufacturing, import and marketing of research-based pharmaceutical, nutritional, diagnostic, hospital and consumer products and in providing toll-manufacturing services. With over 70,000 employees worldwide and a global presence, in more than 130 countries, Abbott is committed to improving people's lives by providing cost-effective healthcare products and services that consistently meet the needs of its customers.

Abbott Pakistan is part of the global healthcare corporation of Abbott Laboratories Chicago, USA. Abbott started operations in Pakistan, as a marketing affiliate in 1948. The company has steadily expanded to a workforce of over 1500 employees. Its shares are quoted on all the three stock exchanges of Pakistan.

It has the honour of being the first pharmaceutical company in Pakistan to achieve Class-A certification by a world-renowned organization, Messrs. Oliver Wight. The company has also pioneered the concept of disease specific nutrition in Pakistan through introduction of specific products. Abbott Pakistan has leadership in the field of pain management, anesthesia, medical nutrition, anti-infectives and diagnostics. The company's wide range of products is managed and marketed through four marketing arms. The Diagnostic Division operates from its office located at Korangi, Karachi. With leading products in several key segments of the diagnostic market, sales and support staff is available in all the major cities of the country.

A continuous process of innovation, research and development, at Abbott's worldwide facilities, enables Abbott Pakistan to offer effective solutions for various healthcare challenges, with products and services that are well-focused within the customer's reach and contribute to improved healthcare of the people of Pakistan. Currently, two manufacturing facilities located at Landhi and Korangi in Karachi continue to use innovative technology to produce top quality pharmaceutical products.

The market for Abbott has been in a favourable trend. They have experienced growth in all their segments. However, this year Abbott was faced some restrains in its sales growth, with the figures mounting to double-digits, it was under constrained with limited to 4.3% growth in FY08 for nutritional sector, as sales volumes were adversely affected due to the regulatory duty and increase in customs duty on nutritional products. Similarly, their core field of pharmaceutical was also under stress, as it only grew by 6.5% in FY08 compared to FY07. Compared to last year, the net sales have increased in FY08 by 7.83%. The rate has though reduced to what was experienced in FY07 (11.19%). It still stays at a favourable condition for the firm.

Company's profitability has been an improvement on a year-on-year basis, as the company is able to minimise its cost structure and hence, post a profitable return. The gross profit margin for FY08 was 30%. Approximately 10% increase compared to the previous year FY07 (41.20%). Several factors contributed to this decline, as there was rupee devaluation, increase in international prices and inflationary pressures. Furthermore, the concern then lies with net profit margin, which has declined to 4.87% in FY08 from 18.48% in FY07. The basic reason for decline is an increase in cost of goods sold, along with lower other income earned during the period of FY08.

Return on Assets (ROA) has shown a considerable decrease in FY08. It has reduced from 25.86% in FY07 to 6.86% in FY08. This decline has mainly resulted in an increase in the cost of goods sold mentioned above. It has resulted in a low net income, which in turn, led to low ROA. Abbott had been performing well from the past few years with an increment of the ROA on year-on-year basis, however FY08 decline has dented the growth of the profits of Abbott. The net income of FY08 was 70.9% less compared to the net income in FY07. This shows the main reason of low ROA

Compared to other companies, Abbott has not performed well in terms of profitability, as it was in previous years. However, it has been able to control its selling and distribution costs, coupled with low interest charges. ROE (Return on Equity) has followed a similar trend as ROA has. This is because again the lower net income earned in the period, along with a very high increase in the reserves category, with its capital reserve increasing by 235% in FY08. This has resulted in a decline of 9.64% in FY08 from 32.79% in FY07.

Similar is the case with ROE, there has been an increase in the net equity, however, not a proportionate increase in the net income observed. In fact, in FY08, there has been a fall in net income. ROE has been on an increasing trend for the past half decade, with earnings on the rise plus stable increase in the equity. However, FY08 has made ratios growth under stress, because of rupee devaluation, inflationary pressures, which have affected the cost structures of the company, especially the cost of goods sold. Augmenting to this, are high selling and distributive expenses, which has resulted in further decline of net income.

Compared to the previous years, the current ratio has further deteriorated. In FY06, it was 4.76x, then declined to 3.15x in FY07 and further to 2.15 in FY08. The company has not been able to increase its current assets in line with the current liabilities. However, it remained in a strong competitive position in the market. Current Liabilities have again shown increasing trend. FY08 showed a substantial increase of 35.7%. This was mainly due to an increase in trade payables that was experienced by the company. The main category in trade and other payables were of accrued liabilities and advances from customers, which posted a total growth of payables of 52.7% in FY08 as compared to FY07. Abbott has not been able to actively manage its current ratio structure, hence faced a declining trend for the two consecutive years - FY07 and FY08.

Quick ratio has also shown a declining movement because an increase in stock-in-trade figures. The quick ratio declined to 1.25x in FY08 from 1.73x in FY07. This year, the reduction is basically attributed to an increase in the stock-in-trade values, which has increased by 24.3% in FY08. Hence, the liquidity condition for the company has been under stress as there has been decline of both current and quick ratios emanating because of increase in current liabilities and disproportionate increase in current assets. Keeping its previous years performance, the company has been a good performer in terms of fulfilment of debt obligations and still stands to be considering the current economy and market condition for the local firms to operate.

Inventory Turnover (ITO) ratio depicts how quickly the company is able to sell-off its inventory. Abbott has been able to perform better in this area. ITO has slightly deteriorated in FY08 from 74.79 days in FY07 to 80.46 days in FY08. This shows that the company has taken 5 days extra to sell-off its inventory, as a result reduced in their efficiency process. This could have been because there is an increase in sales, however the average inventory has been more than the last year's figures. This has resulted in the decline in the ITO. It is not been a significant increase however, compared to the industry, it has slightly deteriorated.

Days sales outstanding (DSO) shows how quickly the company is able to collect the dues from its debtors. It should be high enough for the company to avoid risks of bad debts. Abbott has kept its DSO on a very efficient level with 7.09 in FY08 compared to 7.08 in FY07. This shows that the company has employed reasonable measures to collect their debts from the customers and made sure that their customers do not take long enough to repay the debts of the company.Operating cycle tells us how the cycle from the production to sales and collection of revenues takes place. Abbott again has been able to do this efficiently with only 59 days in FY07, however slightly deteriorated in FY08 to 64 days.

This depicts that within 64days the company is able to do its cash generation. Analyzing it on the year basis, the company is able to do its cash turnover 5 times a year, which remains higher than the other competitor that Abbott faces. TATO, a reflector of the company's assets' revenue generation capability, has again showed a sustained growth of 1.41x in FY08 compared to 1.40x in FY07. This is resulted in because both total assets have increased as well as the sales volume. There has been a capital expenditure of Rs 255 million in FY08 which is part of the up gradation programme due in 2011, this along high sales volume achieved by the company has help company achieve a higher TATO compared to previous years where declining trend was observed.

Sales/Equity follows a similar trend as TATO. It posted 1.98x in FY08 compared to 1.77x in FY07. The increase in sales volume again assisted in increasing the rate of Sales/Equity. This shows that the company is able to have almost 2x the cash generation from the equity invested, which shows a positive sign for the shareholders, who have invested in the company. Moreover more capital reserve can put the ratio under stress in times contraction sales. Abbott has performed better than its counter companies in terms of both TATO and Sales/Equity.

Considering the debt management ratio, the company has performed slightly better than the previous year, but deteriorated in one of the sectors of debt management. The first would be Debt to Asset ratio. There has been a slight deterioration in this ratio as it has declined from 0.20x in FY07 to 0.29x in FY08. The ratio basically tells us that the company has been able to finance their assets through their debt (long-term plus short-term). A slight reduction could be because of the accrued liabilities that have increased in FY08.

The second ratio is Debt to Equity. This shows us that the financing of its assets are done through either certain percentage of debt and equity. There has been a decline in the ratio, 0.41x in FY08 from 0.21x in FY07. This tells us that the company has been relying more on debt to finance its assets than equity. However, they have maintained a healthy position by keeping the gearing ratio below 0.50x. The decline can again be attributed to the increase of Current liabilities that was observed during FY08. Moreover, the equity position is also seen strong, as there has been a considerable increase in their Capital Reserve for the year FY08.

Long-term Debt to Equity has been on a declining trend over the past 3 years. It has improved slightly from FY07. 2.99x (FY07) to 2.82x (FY08). However, the ratio has been a significant concern for the company. This is because of a significant increase in the Deferred Taxation, the company has accumulated defer taxes in the past two years, because of the tax liability that the company incurred. The company had been performing well in FY05 and FY06; however the condition deteriorated in FY07. The T.I.E ratio has been on a rise for the company for the past two years. There is a decline in T.I.E in FY08, 226.84 in FY08 from 853.81 in FY07.

Though it shows that the company has generated enough income to fulfil their financial cost obligations. However there was a decline because of a low EBIT compared to previous year. There has been a significant decline in EBIT in FY08 compared to FY07. The interest expense has been on declining however the EBIT has decrease by 78% in FY08. The (P/E) ratio shows how much investors are willing to pay per rupee of the reported profits, depends on the company's price per share and its the earnings per share (EPS). There is a sharp decline in the EPS observed in FY08. It has fallen from 12.36 in FY07 to 3.51 in FY08. This main reason for this decline is credited to decrease in the net income while the shares outstanding remained the same.

However, P/E has shown an increase in the value because the investors are still ready to pay a higher price for the shares of the company. This shows that the reliability of the company's performance with respect to local investors. Market price at the year-end showed a decline from Rs 188 in FY07 to Rs 110 in FY08. This could be because of the anticipation of volatility of the company's financial performance, which led to a lower demand for the market investment.

There has been a downward trend for the book value per share in FY08. A slight decline from Rs 37.68 in FY07 to Rs 36.45 in FY08, which could be seen as the company's shareholders equity has slightly reduced because of less Revenue Reserves accumulated in FY08. This is because of the dividend issue in FY08 mounted up to Rs 49m. Hence the book value per share reduced. The dividend per share showed a sharp increase in FY08, because of the rise in the dividend paid out for the year. This could be because the company was re-investing its profits for the expansionary purpose for the past 2-3 years.

However it has paid out dividends to their shareholders in order to promote as a profit sharing company and attracted other investors to keep investing in the company. One reason for doing this is that the company faced a competitive financial year, hence to keep trustworthy position of the company, this move can be beneficial to keep their healthy investors in tact rather than losing out on investments. Secondly, the company can argue that the investments made in previous year have paid off and that has resulted in dividend pay out for the shareholders.

FUTURE OUTLOOK

The company has been performing well even in the current economic condition. There has been rupee devaluation and inflationary pressures that has resulted in the increase of the cost of inputs. However the company as well as the industry has been demanding price settlements with the government so that the profitability of the industry is not affected. The company has invested in the cost-effective procedures that will result offset the cost pressures. Secondly the product portfolio is also given more importance so that the company does not rely on one set of products, rather than keep a balance portfolio that could hedge in terms of economic downturn.

The future outlook remains a cause of concern for the whole industry as the industry tends to be highly regulated by the government. A lack of negotiation will keep affecting the profitability of the industry and due to that the less incentive for the companies to keep a competitive market. FY09 brings a lot of opportunities and growth incentives for the company and the industry, if they achieve negotiation with the government. Secondly they could employ better cost initiatives to improve their cost structures which have resulted in low net-income in FY08. Finally the economy is showing a recovery sign globally as well as in Pakistan. There has been a decrease in inflation figures in Pakistan, which would result in better financial performance. Moreover, the global economic condition can help the company with a better imported raw material cost and the increasing demand.

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #2 on: January 18, 2010, 11:13:36 AM »
Pharmaceutical: ABBOTT LABORATORIES PAKISTAN LIMITED - Analysis of Financial Statements November 2007 - 2003 Q 2009

OVERVIEW (January 18 2010): Abbott Laboratories is a highly diversified global health care company devoted to the discovery, development, manufacture and marketing of pharmaceutical, nutritional and medical products, including devices and diagnostics. The company is principally engaged in the manufacturing, import and marketing of research based pharmaceutical, nutritional, diagnostic, hospital and consumer products and in providing toll manufacturing services.

With over 70,000 employees world-wide and a global presence in more than 130 countries, Abbott is committed to improving people's lives by providing cost-effective health care products and services that consistently meet the needs of its customers. Abbott Pakistan is part of the global healthcare corporation of Abbott Laboratories, Chicago, USA.

Abbott started operations in Pakistan as a marketing affiliate in 1948; the company has steadily expanded to comprise a work force of over 1500 employees. Its shares are now quoted at all exchanges of Pakistan. It has the honour of being the first pharmaceutical company in Pakistan to achieve Class-A certification by a world-renowned organisation Messers Oliver Wight. The company has also pioneered the concept of disease specific nutrition in Pakistan through introduction of specific products.

Abbott Pakistan has leadership in the field of Pain Management, Anesthesia, Medical Nutrition, Anti-Infectives and Diagnostics. Their wide range of products is managed and marketed through four marketing arms. The Diagnostic Division operates from its office located at Korangi, Karachi. With leading products in several key segments of the diagnostic market, Sales and support staff are available in all the major cities of the country.

A continuous process of innovation, research and development at Abbott's world-wide facilities enables Abbott Pakistan to offer effective solutions for various healthcare challenges, with products and services that are well focused, within the customer's reach and contribute to improved health care of the people of Pakistan. Currently two manufacturing facilities located at Landhi and Korangi in Karachi continue to use innovative technology to produce top quality pharmaceutical products.

RECENT RESULTS 2003 Q 2009

The pharmaceutical segments 80% of Abbott's sales increased by 19% while other segments along with nutritional increased by 11% as compared to same quarter last year. Domestic as well as export sales have increased resulting in an increase in sales of 17.32% to be Rs 6134 million. PAT was Rs 244 million showing a decrease of 18%. EPS was recorded at Rs 2.49 as compared to Rs 3.05 in the last year. GP declined by 13.6% while GP Margin declined to 31% as compared to 38% in FY08. The decline in GP margin may be attributable to inflationary pressures and depreciating rupee and increased prices of raw materials that are imported.

The market for Abbott has been in a favourable trend. They have experienced growth in all their segments. However this year, Abbott faced some restrains in terms of sales growth, with figures mounting to double-digits, it was under constrained with limited to 4.3% growth in FY08 for Nutritional sector, sales volume were adversely affected due to the regulatory duty and increase in custom duty imposed on nutritional products. Similarly, their core field of pharmaceutical also was under-stress, as it only grew compared to FY07 in FY08 by 6.5%.

Compared to last year, the net sales have increased in FY08 by 7.83%. The rate has though reduced to what was experienced in FY07 (11.19%), it still stays at favourable condition for the firm.

Company's profitability has been an improvement on a year-on-year basis, as the company is able to minimise its cost structure and hence post a profitable return. The gross profit margin for FY08 was 30%. Approximately 10% increase compared to the previous year FY07 (41.20%). Several factors contribute to this decline, as there was rupee devaluation, increase of in international prices, inflationary pressures.

Furthermore the concern then lies with Net Profit Margin, which has declined to 4.87% in FY08 from 18.48% in FY07. The basic reason contributing to which is increase in Cost of Goods Sold, along with lower other income earned during the period of FY08.

Return on Assets (ROA) has shown a considerable decrease in FY08. It has reduced from 25.86% in FY07 to 6.86% in FY08. This decline has mainly resulted in an increase in the Cost of Goods Sold mentioned above. It has resulted in low net income, which in turn led to low ROA.

Abbott had been performing well in the past few years with an increment of the ROA on year-on-year basis, however the FY08 decline has dented the growth of profits of Abbott. The net-income of FY08 was 70.9% less compared to net-income in FY07. This shows the main reason of low ROA.

Compared to other companies, Abbott has not performed in terms of profitability as it was in previous years. However it has been able to control its selling and distribution cost, along with low interest charges.

ROE (Return on Equity) has followed a similar trend as ROA has. This is because again the lower net-income earned in the period, along with a very high increase in the Reserves category with its capital reserve increasing by 235% in FY08. This has resulted in a decline of 9.64% (FY08) from 32.79% (FY07).

Similar is the case in ROE, there has been an increase in the net-equity however not a proportionate increase in the net-income observed. In fact in FY08 there has been a fall in net-income. ROE has been on an increasing trend for the past half decade, with earnings on the rise plus stable increase in the equity. However FY08 has made ratios growth under stress because of the adversely affecting rupee devaluation, inflationary pressures, which have affected the cost structures of the company, especially Cost of Goods Sold. Augmenting to this are high Selling and Distributive Expenses, which has resulted in further decline of net-income.

Compared to previous years the Current ratio has further deteriorated, in FY06 it was 4.76x, which then declined to 3.15x in FY07 and further to 2.15 in FY08. The company has not been able to increase its Current assets in line with Current liabilities. However, it remained in a strong competitive position in the market.

Current Liabilities have again shown increasing trend. FY08 showed a substantial increase of 35.7%. This was mainly due to an increase trade payables that was experienced by the company. The main category in trade and other payables were of Accrued Liabilities and Advances from Customers, which posted a total growth of payables of 52.7% in FY08 compared to FY07. Abbott has not been effectively able to actively manage its current ratio structure, hence faced a declining trend for two consecutive years FY07 and FY08.

Quick Ratio has also shown a declining movement because an increase in Stock-in-trade figures. The Quick ratio declined to 1.25x in FY08 from 1.73x in FY07. This year the reduction is basically attributed to an increase in the Stock-in-trade values, which has increased by 24.3% in FY08.

Hence, the liquidity condition for the company has been under stress as there has been decline of both current and quick ratio emanating because of increase in Current Liabilities and disproportionate increase in Current Assets. Keeping its previous years performance, the company has been a good performer in terms of fulfilment of Debt obligations and still stand to be considering the current economy and market condition for the local firms to operate.

Inventory Turnover (ITO) ratio depicts how quickly the company is able to sell off its inventory. Abbott has been able to perform better in this area.

ITO has slightly deteriorated in FY08 from 74.79 days (FY07) to 80.46 (FY08). This shows that the company has taken 5 days extra to sell off its inventory, as a result reduced in their efficiency process. This could have been because there is an increase in sales, however the average inventory has been more than the last year's figures. This has resulted in the decline in the ITO. It has not been a significant increase as compared to the industry it has slightly deteriorated.

Days sales outstanding (DSO) shows how quickly the company is able to collect the dues from its debtors. It should be high enough for the company to avoid risks of bad debts. Abbott has kept its DSO on a very efficient level with 7.09 in FY08 compared to 7.08 in FY07. This shows that the company has employed reasonable measures to collect their debts from the customers and made sure that their customers do not take long enough to repay the debts of the company.

Operating cycle tells us how the cycle from the production to sales and collection of revenues takes place. Abbott again has been able to do this efficiently with only 59 days in FY07, however slightly deteriorated in FY08 to 64 days. This depicts that within 64days the company is able to do its cash generation. Analysing it on the year basis, the company is able to do its cash turnover 5times a year, which remains higher than the other competitor that Abbott faces.

TATO, a reflector of the company's assets' revenue generation capability, has again showed a sustained growth of 1.41x in FY08 compared to 1.40x in FY07. This is resulted in because both total assets have increased as well as the sales volume. There has been a capital expenditure of Rs 255 million in FY08 which is part of the up gradation program due in 2011, this along high sales volume achieved by the company has help company achieve a higher TATO compared to previous years where declining trend was observed.

Sales/Equity follows a similar trend as TATO. It posted 1.98x in FY08 compared to 1.77x in FY07. The increase in sales volume again assisted in increasing the rate of Sales/Equity. This shows that the company is able to have almost 2x the cash generation from the equity invested, which shows a positive sign for the shareholders who have invested in the company. Moreover more capital reserve can put the ratio under stress in times contraction sales. Abbott has performed better than its counter companies in terms of both TATO and Sales/Equity.

Considering the debt management ratio, the company has performed slightly better than the previous year, but deteriorated in one of the sectors of debt management. The first would be Debt to Asset ratio. There has been a slight deterioration in this ratio as it has declined from 0.20x in FY07 to 0.29x in FY08. The ratio basically tells us that the company has been able to finance their assets through their debt (long-term plus short-term). A slight reduction could be because of the accrued liabilities that have increased in FY08.

The second ratio is Debt to Equity. This shows us that the financing of its assets are done through either certain percentage of debt and equity. There has been a decline in the ratio, 0.41x in FY08 from 0.21x in FY07. This tells us that the company has been relying more on debt to finance its assets than equity. However, they have maintained a healthy position by keeping the gearing ratio below 0.50x. The decline can again be attributed to the increase of Current liabilities that was observed during FY08. Moreover, the equity position is also seen strong as there has been a considerable increase in their Capital Reserve for the year FY08.

Long term Debt to Equity has been on a declining trend over the past 3 years. It has improved slightly from FY07. 2.99x (FY07) to 2.82x (FY08). However, the ratio has been a significant concern for the company. This is because of a significant increase in the Deferred Taxation, the company has accumulated defer taxes in the past two years, because of the tax liability that the company incurred. The company had been performing well in FY05 and FY06; however the condition deteriorated in FY07.

The TIE ratio has been on a rise for the company for the past two years. There is a decline in the TIE in FY08 to 226.84 from 853.81 in FY07. Though it shows that the company has generated enough income to fulfil their financial cost obligation. However there was a decline because of a low EBIT compared to previous year. There has been a significant decline in EBIT in FY08 compared to FY07. The interest expense has been on declining however the EBIT has decrease by 78% in FY08.

The (P/E) ratio shows how much investors are willing to pay per rupee of the reported profits, depends on the company's price per share and its the earnings per share (EPS). There is a sharp decline in the EPS observed in FY08. It has fallen from 12.36 in FY07 to 3.51 in FY08. This main reason for this decline is credited to decrease in the net income while the shares outstanding remained the same.

However, P/E has shown an increase in the value because the investors are still ready to pay a higher price for the shares of the company. This shows that the reliability of the company's performance with respect to local investors.

Market price at year-end showed a decline from Rs 188 in FY07 to Rs110 in FY08. This could be because of the anticipation of volatility of the company's financial performance, which led to a lower demand for the market investment.

There has been a downward trend for the Book value per share in FY08. A slight decline from Rs 37.68 in FY07 to Rs 36.45 in FY08, which could be seen as the company's shareholders equity has slightly reduced because of less Revenue Reserves accumulated in FY08. This is because of the dividends issued in FY08 mounted to Rs49m. Hence the book value per share reduced.

The dividend per share showed a sharp increase in FY08, because of the rise in the dividend paid out for the year. This could be because the company was re-investing its profits for the expansionary purpose for the past 2-3 years. However it has paid out dividends to their shareholders in order to promote as a profit sharing company and attracted other investors to keep investing in the company. One reason for doing this is that the company faced a competitive financial year, hence to keep trustworthy position of the company, this move can be beneficial to keep their healthy investors in tact rather than losing out on investments. Secondly, the company can argue that the investments made in previous year have paid off and that has resulted in dividend pay out for the shareholders.

FUTURE OUTLOOK

The Company has been performing well even in the current economic condition. There has been rupee devaluation and inflationary pressures that has resulted in the increase of the cost of inputs.

The future outlook remains a cause of concern for the whole industry as the industry tends to be highly regulated by government. Lack of negotiation will affect the profitability of the industry and due to that the less incentives for the companies to keep competitive markets.

FY09 brings a lot of opportunities and growth incentives for the company and the industry, if they achieve negotiation with the government. Secondly, they could employ better cost initiatives to improve their cost structures, which have resulted in low net-income in FY08.

===============================================================================================================
ABBOTT LABORATORIES (PAKISTAN) LIMITED - FINANCIALS
===============================================================================================================
Balance Sheet                            2002       2003       2004       2005       2006       2007       2008
---------------------------------------------------------------------------------------------------------------
Cash and Bank Balances                468,259    697,047  1,083,182  1,160,775  1,608,841    496,118  1,051,489
Stocks and Spares                      59,391     43,658     44,933     49,983     52,498     47,875     47,747
Stocks-In-Trade                       825,268    757,948    917,621  1,217,900  1,256,141  1,363,508  1,696,200
Trade Debts/Accounts Receivables       76,839     97,057     88,050    147,297    208,742    128,817    139,004
Loans and Advances                     27,550     25,215     17,444     19,429     21,812     33,369     21,316
Deposits and Prepayments               88,821     76,569     62,968     67,156     63,078    101,988    164,785
Interest Accrued                                   2,094        491          -          -          -          -
Accrued Profit                                                           8,111     11,739      5,576          -
Taxation Recoverable                   58,927    237,449    135,478    131,233    295,934    154,598    258,708
Investments                                 -          -          -          -          -          -          -
Other Receivables                     124,785     42,679     14,219    106,139     45,384    197,280     35,465
CURRENT ASSETS                      1,729,840  1,979,716  2,364,386  2,908,023  3,564,169  3,129,129  3,421,308
Operating Fixed Assets                744,625    805,219    819,481    823,498    963,726  1,516,821  1,358,355
Capital Work in Progress               93,169    138,027    153,487    364,251    473,297               202,480
Long Term Loans and Advances           30,497     31,304     27,937     28,336     25,306     25,892     23,580
Long Term Deposits                      3,305      3,205      3,332      4,947      3,394      4,393      4,393
Long Term Prepayments                   1,000        600          -                 5,533      5,133      5,773
---------------------------------------------------------------------------------------------------------------
Deferred Taxation
---------------------------------------------------------------------------------------------------------------
NON-CURRENT ASSETS                    872,596    978,355  1,004,237  1,221,032  1,471,256  1,552,239  1,594,581
TOTAL ASSETS                        2,602,436  2,958,071  3,368,623  4,129,055  5,035,425  4,681,368  5,015,889
STF under mark-up arrangements         52,465          3          -          -          -          -          -
Creditors, accrued
 and other liabilities                513,745    604,778    554,876    696,130    749,439    881,681  1,346,771
---------------------------------------------------------------------------------------------------------------
Taxation-net
---------------------------------------------------------------------------------------------------------------
Proposed Dividends                    128,762          -          -          -          -          -          -
CURRENT LIABILITIES                   694,972    604,781    554,876    696,130    749,439    992,095  1,346,771
---------------------------------------------------------------------------------------------------------------
Long Term Loans
---------------------------------------------------------------------------------------------------------------
Deferred Liabilities                   11,665          -          -          -          -          -          -
Deferred Taxation                       1,818     27,531     24,145     21,081     44,100    110,414    100,606
NON-CURRENT LIABILITIES                13,483     27,531     24,145     21,081     44,100    110,414    100,606
TOTAL LIABILITIES                     708,455    632,312    579,021    717,211    793,539    992,095  1,447,377
SHAREHOLDERS' EQUITY                1,893,981  2,325,759  2,789,602  3,411,844  4,241,886  3,689,273  3,568,512
---------------------------------------------------------------------------------------------------------------
Income Statement                         2002       2003       2004       2005       2006       2007       2008
---------------------------------------------------------------------------------------------------------------
Net Sales                           4,004,210  4,277,322  4,598,074  5,176,264  5,887,748  5,887,748  7,059,011
Cost of Goods Sold                  2,592,018  2,632,614  2,673,535  2,930,965  3,435,553  3,435,553  4,991,510
Gross Profit                        1,462,004  1,681,967  1,985,390  2,296,119  2,478,628  2,478,628  2,069,509
Selling, General and Admin. Expenses  735,830    800,903    836,842    840,515  1,013,700  1,013,700  1,590,621
EBIT                                  758,580    902,774  1,174,956  1,504,668  1,573,650  1,573,650  3,660,130
Interest Expense                       11,315     16,289      3,142      2,902      3,660      3,660      2,704
Net Income Before Taxation            688,647    817,820  1,079,823  1,366,179  1,439,970  1,439,970    544,822
Net Income After Taxation             439,250    526,203    747,119    962,172  1,000,008  1,000,008    343,980
---------------------------------------------------------------------------------------------------------------
PROFITABILITY RATIOS
---------------------------------------------------------------------------------------------------------------
Profit Margin                           10.97%     12.30%     16.25%     18.59%     16.98%     18.48%     4.87%
Gross profit margin                     36.51%     39.32%     43.18%     44.36%     42.10%     58.82%    70.71%
Return on Assets                        16.88%     17.79%     22.18%     23.30%     19.86%     25.84%     6.86%
Return on Equity                        23.19%     22.63%     26.78%     28.20%     23.57%     32.79%     9.64%
---------------------------------------------------------------------------------------------------------------
LIQUIDITY RATIOS
---------------------------------------------------------------------------------------------------------------
Quick Ratio                              1.22       1.95       2.53       2.36       3.01       1.73       1.25
Current Ratio                            2.49       3.27       4.26       4.18       4.76       3.15       2.54
---------------------------------------------------------------------------------------------------------------
ASSET MANAGEMENT RATIOS
---------------------------------------------------------------------------------------------------------------
Inventory Turnover(Days)                73.69      66.63      65.59      74.26      75.64      52.33      57.01
Day Sales Outstanding (Days)             6.91       8.17       6.89      10.24      12.76       7.08       7.09
Operating cycle (Days)                  80.60      74.79      72.49      84.51      88.40      59.41      64.10
Total Asset Turnover                     1.54       1.45       1.36       1.25       1.17       1.40       1.41
Sales/Equity                             2.11       1.84       1.65       1.52       1.39       1.77       1.98
---------------------------------------------------------------------------------------------------------------
DEBT MANAGEMENT RATIOS
---------------------------------------------------------------------------------------------------------------
Debt to Asset                            0.27       0.21       0.17       0.17       0.16       0.21       0.29
Debt to Equity Ratio                     0.37       0.27       0.21       0.21       0.19       0.27       0.41
Long Term Debt to Equity(%)              0.01       0.01       0.01       0.01       0.01       2.99       2.82
Times Interest Earned                   67.04      55.42     373.95     518.49     429.96     853.81     226.54
---------------------------------------------------------------------------------------------------------------
MARKET RATIOS
---------------------------------------------------------------------------------------------------------------
Earning per share                       10.23      11.15      13.19      14.15      10.21       2.36       3.51
Price/Earnings Ratio                     8.21       8.43      12.28      12.86      14.10       5.25      31.34
Dividend per share                       3.30       3.00       3.00       2.50          -       2.00       5.02
Book value per share                    44.13      49.26      49.24      50.18      43.33      37.68      36.45
No  of Shares issued (in thousands)    42,921     47,213     56,655     67,986     97,900     97,900   97900.30
Market prices(Year End)                    84         94        162        182        144     188.45     110.00
===============================================================================================================
COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi,

Offline co2

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #3 on: January 28, 2010, 02:14:43 PM »
lower locked
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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #4 on: January 28, 2010, 02:16:01 PM »
3rs  div
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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #5 on: March 09, 2010, 08:38:26 PM »
Symbol Code: ABOT  Company Name: ABBOTT LABORATORIES (PAK) LTD. 
Profit/Loss: (N/A)  Amount: (N/A) 
Before/After Tax: After  Half/Full Year: (N/A)  Period: 02/28/2010 
Dividend: (N/A) %  Bonus Shares: (N/A) %  Right Shares: (N/A) % 
AGM Date: (N/A)  Book Closure From: (N/A) 
Book Closure To: (N/A)  Board Meeting Date: 03/15/2010 
General Info: Board meeting at 11:30 a.m. to consider the quarterly accounts. 
TRUST IN GOD AND DO THE RIGHT.

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #6 on: April 17, 2010, 12:05:26 AM »
Just Buy it.

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Offline Farzooq

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #8 on: May 12, 2010, 09:26:16 AM »
Healthcare: ABBOTT LABORATORIES PAKISTAN LIMITED - Analysis of Financial Statements November 2004 - November 2009
OVERVIEW (May 11 2010): Abbott Laboratories is a highly diversified global healthcare company devoted to the discovery, development, manufacture and marketing of pharmaceutical, nutritional and medical products, including devices and diagnostics.

The company is principally engaged in manufacturing, import and marketing of research-based pharmaceutical, nutritional, diagnostic, hospital and consumer products and providing toll-manufacturing services. With over 70,000 employees worldwide and a global presence in more than 130 countries, Abbott is committed to improving people's lives by providing cost-effective healthcare products and services that consistently meet the needs of its customers. Abbott Pakistan is part of the global healthcare corporation of Abbott Laboratories Chicago, USA.

Abbott started operations in Pakistan as a marketing affiliate in 1948; the company has steadily expanded to comprise a work force of over 1500 employees. Its shares are now quoted at all exchanges of Pakistan. It has the honor of being the first pharmaceutical company in Pakistan to achieve Class-A certification by a world-renowned organization, Messrs Oliver Wight. The company has also pioneered the concept of disease specific nutrition in Pakistan through introduction of specific products.

Abbott Pakistan has the leader in the field of pain management, anesthesia, medical nutrition, anti-infectives and diagnostics. Its wide-range of products is managed and marketed through four marketing arms. The diagnostic division operates from its office located at Korangi, Karachi. With leading products in several key segments of the diagnostic market, sales and support staff are available in all the major cities of the country.

A continuous process of innovation, research and development at Abbott's worldwide facilities enables Abbott Pakistan to offer effective solutions for various healthcare challenges, with products and services that are well focused, within the customer's reach and contribute to improved health care of the people of Pakistan. Currently two manufacturing facilities located at Landhi and Korangi in Karachi continue to use innovative technology to produce top quality pharmaceutical products.

INDUSTRY ANALYSIS

Pakistan has a very vibrant and forward-looking pharma industry. At the time of independence in 1947, there was hardly any pharma industry in the country. Today, the country has about 370 pharmaceutical manufacturing units including those operated by 30 multinationals present in the country. The local companies can be classified into three categories:

1. Manufacturing units

2. Importers that import drugs in finished form

3. Franchisers

The prevailing market size of the industry is worth Rs 80.11 billion. Of this total, the market share of local pharma companies is 59%. Pakistan pharmaceutical industry meets around 70% of the country's demand of finished medicines. The domestic market, in term of share market is almost evenly divided between the nationals and the multinationals.

Pharma industry has shown robust growth, particularly over the last one decade. The industry has, over the years, invested largely in improving its manufacturing practices and follows Good Manufacturing Processes (GMP) as widely known internationally. Currently, the industry has the capacity to manufacture a multiplicity of products ranging from simple pills to sophisticated biotech, oncology and value-added generic compounds.

Nevertheless the tremendous growth in the industry hasn't yet assured easy and inexpensive availability of medicines to the poor and deprived of the country. Clearly this presents a prospect, however a lot needs to be done with partnership of government with the pharma manufacturers. The value of pharmaceuticals sold in 2007 exceeded US $1.4bn, which equates to per capita consumption of less than US $10 per year and value of medicines sold is expected to exceed US $2.3 billion by 2012.

Pakistan is a developing pharmaceutical market, with a large population and economic progress evident, but per capita drug spending has been low at around US $9.30 in 2007. Private spending accounts for 65% of total healthcare expenditure sourced through out-of pocket payments, international aid and religious or charitable institutions. Public spending on the other hand accounts only 1% of the total GDP. The forecast period is likely to witness the marginal strengthening of the generics sector, albeit more in terms of volumes than values. The share of generics is also likely to increase further as major drugs become off patent in the near-term, to the likely benefit of the generics-dominated local industry.

Pakistan pharma industry is relatively young in the international markets with an export turnover of over US $100 million as of 2007. The industry boasts of quality producers and many units are approved by regulatory authorities all over the world. Like domestic market the sales in international market have gone almost double during last five years. The pharma industry is focusing to an export vision of USD 500 million by 2013. In the meantime, exports are also likely to be boosted by new regional and global opportunities.

The market conditions generally remained favourable throughout the FY07 and consequently the company witnessed a double-digit sales growth in all its segments. Pharmaceutical sales increased due to improved field force productivity and an overall strong demand for Company's products. Antibiotics and cough cold sales also registered an increase compared to last year. Vitamins and pain management product sales continued its double-digit sales growth as the company maintained its leadership position in these sections of the pharmaceutical market. The company despite the competition from low-priced generic products achieved a robust sales growth without a price hike.

According to the IMS (November 2009, 12 months), Abbott Pakistan has a market share of 5.2% of Pakistan pharmaceutical market. Abbott has been doing better than the average pharmaceutical company over the 8 years under observation. In 2001, Abbott performed much better than the industry average, an 84% difference in profit margin, in favor of Abbot. After 2001, the industry's rate of change of profit margin was greater than that of Abbott, bring the too closer to each other. However, 2003, the difference began to increase again and still it operates above average.

OPERATING PERFORMANCENet sales for the year registered an increase of 19% over the prior year. Gross profit was 29% of sales versus 30% last year primarily due to depreciation of Pak rupee and inflation with no corresponding increase in selling prices of pharmaceutical products by the government. Profit for the year after tax was Rs 826 million (2008: Rs 344 million). Increase in current year's profit is attributable to actuarial gain recognized on the improved performance of Pension fund investments.

The profit margins have improved from FY08 from 5% to 10% in FY09, specifically due to better efficiency in selling and distribution, expenses of which reduced by 17%, and also an increase in other income of Rs 36 million thus easing the pressure on profitability which the Abbott has experienced in the past two years. However Abbott has still got to recover to the level it had achieved in the FY07.

The company's profitability had been on a constant rise till 2007 (except in 2006), indicating that the costs are under control, as the net income had been increasing by a greater proportion than its sales.

However, net sales for FY06 had increased by only 13% as compared to FY05. The pharmaceutical segment (representing almost 85% of the company's business) is starting to get adversely affected by the lack of price increase for registered products by the government. With almost a double-digit inflation and the rupee significantly depreciating particularly against the major European currencies, the cost pressures are beginning to hurt the company's profitability. Consequently its gross profit and net profit margins both declined in FY06, despite improvement in both sales mix and plant efficiencies. The profit margin increased by 32% between 2003 and 2004, where as the gross profit increased by around 40% in 2007, the largest increase experienced in the 8 years under observation.

ROA and ROE trend show that it increased 26% and 32% respectively in 2007, however it declined sharply in FY 08 to 6.81% and 10% respectively, specifically due to an increase in cost of goods sold of 30% attributed by a devaluation of the rupee. However it improved from these levels to resume at a much better rate of 17% and 26% respectively.

FY06 had experienced a major decline because of the greater proportionate increase in assets compared to an increase in net income. The net income increase was lower because of higher selling, administrative and distribution expenses driven mainly by increased promotional expenses relating to consumerization of selective nutritional products and higher pension charge. Slight increase in financial costs combined with inflation and rupee depreciation caused the net income to increase only slightly compared to total assets increase. However, the situation improved in FY07 showing an increase in ROA.

LIQUIDITY POSITION

The liquidity position is not highly worrying though it isn't so rosy like it used to be before FY07 as both the current and quick ratio have declined to 2.03 and 0.94 respectively from levels as high as 4.76 and 3 in FY06. The decline in mostly associated with the decline in cash and bank balances plus a rise in creditors.

All the liquidity ratios indicate that the company has expanded over the 8 years. The current ratio has increased from 1.83 in 2000 to 4.76 in 2006. However, it declined in FY'07 again due to combined effects of lower CA and higher CL.

Abbott's current ratio trend has been in line with the increasing industry trend, with the exception of the year 2005, where the current ratio fell from 4.26 to 4.18, a result of the higher proportionate increase in current liabilities, including creditors, accrued and other liabilities (25% compared to 23%). But this decline is quite meager.

The current assets have been increasing constantly till 2006, however the rate of increase has been very variable, ranging from 68% between 2000 and 2001, from 0.4% between 2001 and 2002 and ultimately declining in FY07.

On the other hand, current liabilities have experienced a very fluctuating trend, ranging from a 45% increase between 2000 and 2001, to a 15% decrease over the next year. The current ratio rose sharply between 2002 and 2004 because the current assets increased by 37%, mainly due to an increase in cash balances and recoverable taxation, while the current liabilities decreased by 20%, because a decline in the short-term finances and proposed dividends.

In fact, current liabilities fell from 2001 to 2003. While in 2000, the ratio of 0.61:1 showed that the company might become insolvent, it further implied that its stock-in-trade was above the industry average. In subsequent periods it improved its liquidity position with respect to this particular ratio. The company's movement is similar to that of the industry, with the exception of 2005. The drop can be attributed to the 33% increase in inventory that year.

Although the increased current ratio over the six years reflects an increase in Abbott's ability to pay off its short-term obligations, it also indicates an excess of nonproductive assets such as cash and inventory.

Quick ratio followed a similar trend to that of current ratios, being on a constant rise till 2004, while suffering a fall in the consequent periods. The rise for the first four periods can be attributed to the proportionate increase in current assets, excluding inventory, being higher than the proportionate increase liabilities.

ENCOURAGING SIGNS IN ASSET MANAGEMENT

Inventory Turnover (ITO) ratio depicts how quickly the company is able to sell off its inventory. For Abbott, this has always been greater than that of the industry's average, as its undergoing a capital expansion programme over the past few years.

ITO had been declining until 2004, after which it started rising. The decline is to be explained by the proportionate increase in net sales being higher than the increase in average inventory kept by the company. This is a good sign because a decline in inventory turnover indicates that the company efficiently selling off its inventory and hence is not facing a risk of obsolescence of inventory further showing that demand is high. However the ratio's increase from 2004 onwards, is because the net sales are not increasing by a high percentage while inventory increases. This can be attributed to company's plant expansion and up-gradation project that has been commissioned in phases till 2007.

Days sales outstanding (DSO) shows how quickly the company is able to collect the dues from its debtors. It should be high enough for the company to avoid risks of bad debts. The trend line indicates a decline in this ratio for the first two years due to the proportionate increase in net sales being higher than that in trade debts indicating that the company is facing higher risk of debt evasion and it needs to reformulate its credit policy.

Then there were some fluctuations after which this ratio experienced a rapid rise in 2005 and 2006 due to 67% and 43% rise in trade debts (credit sales) with only modest increase of 13% and 14% in net sales respectively. The operating cycle of Abbot hence showed an increase in FY 05 and FY 06 due to rise in ITO and DSO in the respective years. However, DSO declined again in FY'07 like ITO thus lowering the overall operating cycle, which is a good sign. Currently in FY09 it stands at 10 days, which is pretty efficient as well.

Moreover, it must be noted that Abbott's DSO is far below the industry average, depicting its healthy status.

It can use this advantage over the average pharmaceutical company, as it receives cash much earlier than the others. This cash can be used for further investment in more assets, such as inventory, as well as for further expansion.

TATO, a reflector of the company's assets' revenue generation capability, decreased in FY06 only to increase in FY07 but after that the ratio shows a positive trend. Now it stands at 1.7, which is the best Abbott has achieved. The reason for the decline in FY06 can be the percentage increases in net sales of 13% and 14% being lower than the percentage increases in total assets of 23% and 22% in 2005 and 2006 respectively.

This decline is due to the fact that the company has been investing in its fixed assets, mainly in plant, machinery and infrastructure up gradation. Capital expenditure of Rs 365 million was made to improve compliance with the latest GMP and EHS requirements.

The sales/equity ratio also follows the exactly same pattern as that of TATO. This is showing a declining trend FY06 onwards because of increasing equity base of the company both due to increasing reserves and paid-up capital over the years. However, the situation reversed and both TATO and sales/equity ratios improved in FY07 on the account of a much higher increase in sales.

More reliance on trade financing

As far as debt management is concerned, Abbott has followed the very similar trend such as the industry. The trend line that Abbott is increasing its reliance more on debt as the debt to asset and debt to equity both have increased consistently. The current liabilities increased by 16% and non-current liabilities increased by 19% in FY09. The long-term liabilities solely include deferred taxation, which has been on the rise due lesser taxable income over the years compared to the accounting income.

After the stock exchange crash of 2008 Abbott stock prices declined 41% in 2008 and by a further 12% in 2009. Although the EPS has seemed to resume at the previous levels but the investors' confidence in the stock market and the economy has yet to be established. Thus the P/E ratio that shows the confidence of investors on the company's future growth potential has also declined considerably as the stock valued at Rs 96.5 at the end of 2009 as compared to Rs 188 in 2007. Abbott's EPS had been on a constant rise from 2000 right until 2006. This drastic increase can be attributed to a higher increase in net sales, while the number of shares remained either constant or increased slightly. In FY06 the EPS declined due to a greater number of shares issued.

Consequently, the P/E ratio also followed a rising trend due to a higher increase (or smaller decline in case of FY06) in market price than the proportionate increase (or decline in FY06) in EPS.

Till 2005 the shares of Abbott have outperformed the 100 index but later the trend has been volatile as evident from the price chart.

The dividend per share was the highest in 2009 at Rs 12 per share. The high dividend per share is a signal for investors to keep faith in the company, as the prospects look good for the company.

COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi,
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Offline Laoo Maal

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #9 on: September 08, 2011, 11:59:11 PM »
seniors plz guide me of this share
heard from my broker that a good share to buy with keeping an eye on glaxo
will give good dividend and better eps this year
HY is good and has shown growth in eps
magar dividend ka nahi pta

Offline Laoo Maal

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #10 on: September 12, 2011, 01:59:02 PM »
seniors plz guide me of this share
heard from my broker that a good share to buy with keeping an eye on glaxo
will give good dividend and better eps this year
HY is good and has shown growth in eps
magar dividend ka nahi pta

aaj savere savere jab meine dar dar ke 500shares abot @ 97 liye on my broker call tou maza aa gaya mujhe
lejao ise upper lock pe  :clap1: :clap1: :clap1: :clap1: :clap1: :clap1: :clap1: :clap1:
laoo abot any reason for upper cap

Offline khi1990

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #11 on: September 15, 2011, 02:37:11 PM »
with the earnings rising i think it will hit around 140 near its year end and i guess the eps would be around rs 15 so its a good share but i m not sure whether to enter in this script or not

Offline Poker Face

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #12 on: September 18, 2011, 03:26:46 PM »
with the earnings rising i think it will hit around 140 near its year end and i guess the eps would be around rs 15 so its a good share but i m not sure whether to enter in this script or not

It will be very difficult to touch 140, generally the trend is stocks with high dividend yields are traded at higher multiples, dividend yield is kept under 15% most of the time, for example if a stock is offering dividend yield of 20%, its market price will rise to low the dividend yield to below 15%. SNAI is expected to touch 50, because at 50, its dividend yield will adjust to 15%.
And as far as shares like ABOT are concerned, their price generally moves with their pay out. ABOT has regularly given dividends and sometimes, even in the range of 9-13 rupees, for now on, excitement can be expected near annual result. Half year performance is very good with top-line growth of 24% and margins increased from 32% to 37%.
But the stock has already gained 36% since Mar, 11.
 
Mar, 12 Target 120/-


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Offline Poker Face

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #13 on: October 19, 2011, 07:06:08 PM »
9 month eps 13.23 previous 8.56
no payout
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Offline Poker Face

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #14 on: February 14, 2012, 05:05:56 PM »
CY 11 eps 16.80 previous 12.02
dps Rs. 4/- in addition to Rs. 2/- interim already paid
Total dps Rs. 6/-
Market reaction was negative to the result as the scrip closed at lower lock
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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #15 on: February 14, 2012, 06:07:44 PM »
sector under pressure due ban on exports? :bangin:

Offline Farzooq

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #16 on: May 06, 2012, 11:45:07 AM »

Pharma firms seek 50-60 percent price hike
Wednesday, 02 May 2012 09:06

ASMA RAZAQ

ISLAMABAD: Already hit by high inflation, ailing Pakistanis are in for another price shock, as some multinational pharmaceutical companies have sent a file to the Cabinet, requesting 50-60 percent rise in prices of some medicines.

Sources told Business Recorder on Tuesday that medicine firms, including Abbott Laboratories and Aventis, had called for increasing the prices of certain medicines such as anti-infection drug Flagyl. “A month ago, a meeting was held in the Cabinet Division under Secretary Nargis Sathi. A final decision is yet to be made in this regard”, sources said.

Before the establishment of Drug Regulatory Authority, and after the devolution of power to provinces, Pakistan’s pharmaceutical industry was passing through a very critical phase. The government’s decision to devolve the health ministry forced the pharmaceutical sector to pay a heavy price. Before the devolution, the pharmaceutical sector was showing a double-digit growth, but after the health ministry was devolved, the pharmaceutical sector faced a loss of billions of rupees.

These companies were previously most concerned with issues related to the import and export of the medicines.

Referring to the current status of the Drug Regulatory Agency of Pakistan Ordinance, 2012, sources said: “The Ordinance has been tabled in the National Assembly. We are hopeful that this ordinance will be approved by the Lower House (of parliament) as the pharma industry is already going through issues like delays in issuance of licenses and registration of new medicine companies.”

The government has already stopped issuing quota to medicine companies for import or locally manufactured ephedrine, which may result in a shortage of some life saving drugs. The government has not allotted quota to drugs companies for the manufacture of life-saving drugs so far. It still needed to allot them the quota in January this year. Therefore, it seems that within the next 20-25 days, the local market would be facing a severe shortage of life-saving drugs.
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Offline SBM

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #17 on: August 13, 2012, 11:50:58 AM »
half year results
dps 3
eps half year 10.41 v 8.77 in 2011
q2 5.59 v 4.68 in 2011
I hate waking up.

Offline Abdul Qadir

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Re: ABOT -- Abbot Laboratories Pakistan Ltd.
« Reply #18 on: August 14, 2012, 05:27:13 AM »
Strong cash cycle with almost no debt great company for investmet.

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