HUBCO profit after tax increases

KARACHI: The profit after tax (consolidated) of Hub Power Company (HUBCO) has increased to Rs 5.545 billion in year ended June 30, 2011 (FY11) as compared to Rs 5.468 billion earned in FY10. The company’s earning per share has increased to Rs 4.81 in the period under review against Rs 4.74 in the same period last year.

The board of directors of the company in its meeting held here on Thursday recommended a final cash dividend for the year ended June 30, 2011 at Rs 3.00 per share i.e. 30 percent. This is in addition to interim dividend already paid in April 2011 at Rs 2.50 per share i.e. 25 percent.

According to the financial results sent to Karachi Stock Exchange, the company’s turnover increased to Rs 123.309 billion in FY11 against Rs 99.694 billion in FY10. The operating costs increased to Rs 114 billion against Rs 92 billion. The company’s profit before taxation increased to Rs 5.563 billion in FY11 against Rs 5.468 billion posted in FY10.

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