Shell profit rises 20 percent in fiscal year 2004

KARACHI (August 20 2004): The profit of Shell Pakistan Limited in the year ended June 30, 2004 rose 20 percent because of higher oil prices and inventory gains.

The Shell's profit from July to June amounted to Rs 1.508 billion as compared with Rs 1.254 billion of the preceding year. The earning per share also rose to 43.01 rupees a share from 35.79 rupees a share.

The company declared a final dividend of 28.50 rupees a share or 285 percent, bringing a total of 35 rupees a share of 350 percent. The company during the previous year also gave 350 percent dividend to its shareholders.

The revenue rose 1.7 percent to Rs 79.180 billion as compared with Rs 77.822 billion of the corresponding year. Despite small increase, the significant improvement in the profitability was due to inventory gains following the rise of oil prices.

The share of price of the company showed remarkable improvement during the trading session at the Karachi Stock Exchange on Thursday. The share price rose 12 rupees, or 3.2 percent, to 388 rupees.

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