The Board of Management of Pakistan State Oil (PSO) convened Thursday here at the PSO head office to review the company’s performance for the year ended June 30, 2013. For the said period, the company posted its highest ever turnover of Rs 1.295 trillion as compared to Rs 1.2 trillion in FY12 representing a growth of 8. Similarly the company’s bottom line improved significantly as after tax earnings rose to Rs 12.56 billion as compared to Rs 9.06 billion in the previous financial year. Substantial growth was also displayed as earnings per share grew by 38.64 percent to Rs 50.84 as compared to Rs 36.67 (diluted) during the corresponding period last year. In the period under review, PSO continued to dominate the market with its share in the black oil and white oil segments standing at 75.5 percent and 55.7 percent respectively, thereby contributing to an overall market share of 64.3 percent. During the stated period, the company’s liquid fuel sales grew from 12.3 million metric tonnes to 12.5 million metric tonnes during the current year. Based on this performance, the PSO BoM announced a final cash dividend of Rs 2.5 per share in addition to the earlier interim cash dividends of Rs 2.5 per share (equivalent to 25 percent) and issuance of bonus stock at the rate of 20 percent. Combined with the earlier interim cash dividends the total cash dividend for the year stands at Rs 5 per share.
