Pakistan State Oil achieved yet another landmark in its 35 year history today, when it was honored for its excellent performance at the prestigious KSE Top Companies Award ceremony. The awards were distributed by President Asif Ali Zardari during an event that was held at Aiwan-e-Sadar, Islamabad. Managing Director PSO, Jehangir Ali Shah received the award on behalf of PSO.
Commenting on the success of PSO, Jehangir Ali Shah, said: “It is an honor for Pakistan State Oil to be awarded KSE Annual Top Company Award. The last few years have been among the most demanding in our industry’s history but despite the challenges, we have kept our focus on managing uninterrupted supplies despite financial constraints and keeping ourselves profitable with continuous excellence. As the largest energy sector company in Pakistan, PSO will continue to serve the needs of the nation in a responsible manner and ensure gainful returns to its shareholders.”
Recognition of PSO’s performance by an accredited national organisation is further testament to the current management’s sagacious planning and sound business policies, which have resulted in PSO posting an after tax earnings of Rs9.25 billion during 3QFY11 as compared to Rs7.53 billion during 3QFY10. Sales revenue at PSO continued to register growth with an increase of 5.6 percent in the period under review, sales volume increased to Rs663 billion in comparison to Rs627 billion in the corresponding period last year.
A second interim cash dividend of Rs3 per share was also announced. The companies to be awarded were selected on the basis of distribution of dividends and return on equity turnover of shares. The Top 25 Companies Award is presented every year to organisations listed on the Karachi Stock Exchange for excellence in business management taking into consideration all functions. PRESS RELEASE
