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PNSC Group earns highest after tax profit - FINANCIAL-24

Staff Reporter

KARACHI: The Board of Directors of Pakistan National Shipping Corporation (PNSC) in its meeting has reviewed and approved its financial performance and position for the year ended June 30, 2017.  Highest Group After Tax Profit of the last twelve years (since year 2005) amounting to Rs. 2,477 million has been achieved during the year against Rs. 2,323 million in the last year. Earnings per Share of the Group increased to Rs. 18.75 from Rs. 17.59 in the corresponding last year. Following the historic trend, PNSC's Board this year too fulfilled the shareholders' expectation by proposing a final cash dividend of 20%.

Despite pressure faced by global shipping industry due to drastic reduction in Bulk freight rates internationally, PNSC achieved better results by focusing on more profitable ventures besides retaining its repute as one of the major contributors to sea borne trade in Pakistan. Nevertheless, the Group intends to expand more by involving in fleet expansion programs and floating transit oil storage services.

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