Lotte Pakistan PTA Limited announces Rs0.5/share final cash dividend

ISLAMABAD: Lotte Pakistan PTA Limited (LOTPTA) on January 26, 2011 announced its 2011 EPS of Rs2.76, down 8% as against Earning Per Share (EPS) of Rs2.99 last year. Final cash dividend of Rs0.5 per share also accompanied the corporate announcement.

The decline in the earnings was primarily on account of subdued primary margins particularly in the 4Q that culminated into loss in 4Q. In the last quarter (4Q2011), company posted a loss of Rs0.23 per share as against EPS of Rs0.59 and Rs0.89 per share in 3Q2011 and 4Q2010, respectively.

Overall in 2011, company’s gross margin declined by 5pps to 12% as against 17% last year, while in 4Q company registered a loss at the gross level due to sharp fall in PTA primary margins.

Following the 4Q results, we are in the process of reviewing our primary margin assumptions and earnings projections.

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