Pakistan Oil & Gas: POL & APL_2QFY19 Result Previews
POL will announce its 1HFY18 results on Jan 22nd, where we estimate the company to post earnings of PkR8.81bn (EPS: PkR31.02), higher by 69%YoY, where the jump in profitability is a factor of higher oil prices, PkR devaluation and modest production. On a sequential basis, 2QFY19E NPAT is expected at PkR4.94bn (EPS:PkR17.4) rising 28%QoQ, where macro tailwinds mask a modest operational backdrop.
For APL, we expect NPAT for 2QFY19 to amount to PkR873mn (EPS:PkR8.77) -44%QoQ/-41%YoY pulled lower by inventory losses (forecasted at PkR323mn), and severe dip in FO volumes (-47%QoQ), while rising income from bank deposits fail to support profitability.
Both scrips are expected to announce interim payouts, with APL/POL DPS expected at PkR10/25/sh, while bonus issuance as a means of non-cash disbursements cannot be ruled out.
Co. and its subsidiaries are principally engaged in the exploration, drilling, production and sale of crude oil and gas and other products.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.