Asia Pulse: SHELL PAKISTAN POSTS US$25.5 MLN PROFIT IN 2003-04 (ShellNews.net)

Posted Sept 25, 2004

KARACHI, Sept 24 Asia Pulse - Shell Pakistan Limited has posted Rs 1.5 billion (US$25.5 million) profit after tax with an increase in previous year's earnings of 20 per cent during 2003-04, on the back of improved margins arising from a better product mix and by bringing cost efficiencies in its operations in the country's oil products market.

"Operating in an intensely competitive market, Shell has delivered a robust performance this year. The company has announced a dividend payout of Rs 35 per share, a testament to shareholders commitment,"

Shell Pakistan Limited Chairman and Managing Director Farooq Rahmatullah said while briefing newsmen on company's financial performance here on Thursday.

He said the dividend is equal to last year's and represents a full profit payout after taking into account the expected capital expenditure for investment in the growth of the company and future working capital requirements.

Farooq said the economy is in a period of strong growth that is reflected in the oil products market.

Shell is keen to participate aggressively in this market growth through a capital investment of Rs 1.1 billion in infrastructure development nation-wide, he said, adding that the company is concentrating on value-added and profit-oriented products, rather than focusing on volume alone.