HUBC post healthy FY12 earnings – Alfalah Securities Limited

Karachi, July 19, 2012 (PPI-OT): Hub Power Company (HUBC) has reported profit after tax of PKR 8,190 million (EPS: PKR 7.08), for FY12 depicting a surge of 51% YoY as against EPS of PKR 4.69 last year.

According to Alfalah Securities Limited, HUBC’s management has also declared a final cash dividend of PKR 3.0 per share taking the total annual payout to PKR 6 per share. The earnings seem to have included a one-time positive impact of Narowal project commissioning. Higher furnace oil prices, depreciation of Pak Rupee and better efficiency have further helped to improve the profitability of the company. HUBC is a good dividend yielding stock trading at FY13E P/E of 6.2x and dividend yield of 14.8%.