Pakistan Oil Marketing: Apr 2019 sales down 16% YoY
- Pakistan OMCs sales continued to suffer, where volumetric sales for Apr 2019 nosedived 16% YoY on back of 33% YoY lower FO volumes and decline in HSD volumes by 18% YoY. FO sales continued to feel pinch amid availability of RLNG/Coal for power generation. While, HSD volumes are down on YoY basis due to slowdown in economic activities.
- Petrol sales touched 20-Month high (in absolute terms), +2% YoY vs. +17% YoY in Apr 2018. Lower growth in MS could be attributed to increase in its prices by around 15% YoY coupled with overall slowdown in economy.
- In MS oil segment, PSO witnessed increase in market share by 4.3ppts YoY to 39.6%, while Hascol share has declined by 8.3ppts YoY to 7% as the company has changed its focus from higher volumes to higher margins. Similarly, unlisted player GNO gained 3.4ppts YoY in its market share.
- On HSD front, Hascol has lost 7.5ppts YoY in its market share to 7.1%, while GNO has gained 7.5ppts YoY and now commands 12% of the market.
Topline Securities is one of the fastest-growing brokerage houses in Pakistan. It has strong Equity Brokerage, Economic/ Equity Research, Commodity Trading and Corporate Finance & Advisory functions.
Topline Securities has been endowed with numerous awards by renowned international financial organizations. The highlights of which consists of the award for ‘Best Local Brokerage House of Pakistan’ by Asiamoney Brokers Poll (the largest Asia-focused equity services provider poll) in 2016 and ‘Best Equity Brokerage House’ by CFA Society Pakistan in 2015.
Previously, Topline Securities held the title for ‘Best Brokerage House’ for 4 consecutive years (2011-2014) by Asiamoney Brokers Poll. Other awards include the ‘Best Salesperson’ award by Asiamoney for 6 consecutive years (2011-2016), the ‘Arabia Fast Growth 500’ award and ‘Pakistan Fast Growth 100’ award in 2012 and 2013 by AllWorld Network.
JCR-VIS, a credit rating agency providing independent rating services in Pakistan has assigned initial rating of “A-2” for short term and “A” for long term to Topline Securities. Topline Securities is registered as Underwriter, Book Runner and Research Entity with Securities & Exchange Commission of Pakistan (SECP).
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