ATRL: FY13 EPS of Rs45.91, lower than market expectations (FY13, EPS=Rs45.91, Cash Payout=25% (4Q), 25% (2Q)) August 15, 2013 ( JS Research ) Attock Refinery Limited (ATRL) announced its FY13 result today. The company booked 43%YoY higher profits of Rs3.9bn (EPS of Rs45.91) in FY13 as against earnings of Rs2.7bn (EPS of Rs32.06) in FY12. The result announcement came in below market expectations (-5% KSE reaction), however slightly higher than our below consensus estimate. Alongside result the company announced a final cash payout of Rs2.5/share taking cumulative dividend in FY13 to Rs5/share. In 4QFY13, ATRL booked revenues of Rs40.2bn, 2% QoQ lower than the preceding quarter. However, gross profits improved to Rs445mn from a gross loss of Rs632mn in 3QFY13 owing to better GRMs during the period. We reiterate our �ell�call on ATRL.
Posted on: Fri, 16 Aug 2013 04:18:06 +0000
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