Equity Analysis /

Attock Petroleum: INTERMARKET INTEL: APL – FY18 results in line; surprise bonus issue to re-rate the stock

    Tellimer Research
    15 August 2018
    Published byTellimer Research
    Attock Petroleum Ltd (APL) announced 4QFY18 NPAT of PKR1,393mn, up 48% yoy. The result was mostly in-line with our expectation of NPAT PKR1,365mn (EPS: PKR16.45). The company also announced final cash dividend of PKR25/sh vs. our expectation of PKR34/sh. The company, however, compensated the investors with a surprise 20% bonus issue.