Qudsia Bano

EFG Hermes Pakistan Limited’s revenue declined 27% to Rs101 million in the first six months of the ongoing calendar compared with Rs138 million in the corresponding period of last year.

Similarly, the operating profit of the company registered a decrease of 73% during the six months of CY22 and stood at Rs11.7 million as against Rs43.6 million in the corresponding period the previous year.

The company posted a net loss of Rs39 million in this calendar year’s six-month period compared to a profit of Rs25.6 million in the corresponding period last year, showing a massive negative growth of 253% year-on-year, reports WealthPK.

Performance in 2021

During 2021, the company, however, maintained a strong sales trend, generating revenue of Rs269 million against Rs204 million in 2020, posting an increase of 32% year-on-year. The operating profit for CY21 stood at Rs73 million, 57% up from R46 million in CY20.

The profit-after-taxation for the year reached Rs28 million, registering a striking 1639% growth from just Rs1.6 million in CY20.

The earnings per share of the company stood negative in 2018 and 2019, but increased to Rs0.08 in 2020, and further to Rs1.44 in 2021. 

EFG Hermes Pakistan Limited remained a private-limited firm till November 2006 when it was made a public unquoted company. The business is a Pakistan Stock Exchange Limited Trading Right Entitlement Certificate Holder. Additionally, it is a corporate member of Pakistan Mercantile Exchange Limited. It works in corporate finance, financial research and financial brokerage.

Credit : Independent News Pakistan-WealthPk