Pakistan Engineering Company Limited (PECO) has announced its financial results for the six-month period ended December 31, 2019. The Board of Directors, in its meeting, approved the condensed interim financial statements and informed shareholders that no cash dividend, bonus shares, or right shares would be issued for the period.<\/p>\n
During the six months ended December 31, 2019, PECO recorded sales revenue of Rs. 158.76 million compared to Rs. 160.02 million during the corresponding period of the previous year. While revenue remained relatively stable, the company succeeded in reducing its net loss significantly.<\/p>\n
The company’s loss after taxation stood at Rs. 99.99 million, a substantial improvement from the loss of Rs. 330.33 million reported in the same period last year. Basic and diluted loss per share improved to Rs. 17.57 compared to Rs. 58.05 in the corresponding period of 2018.<\/p>\n
PECO’s total assets were reported at Rs. 15.60 billion as of December 31, 2019. Property, plant, and equipment continued to represent the largest portion of the company’s asset base, valued at approximately Rs. 14.53 billion. Current assets amounted to Rs. 748.98 million, reflecting available inventories, receivables, investments, and cash resources.<\/p>\n
On the liabilities side, total current liabilities decreased to Rs. 519.52 million from Rs. 556.98 million recorded at June 30, 2019. The company also maintained non-current liabilities of Rs. 188.73 million, primarily consisting of long-term financing and deferred liabilities.<\/p>\n
Cash and cash equivalents at the end of the reporting period stood at Rs. 16.88 million. Although operating activities generated a cash outflow during the period, PECO continued to manage its liquidity position while pursuing operational improvements.<\/p>\n
Management noted that the reduction in losses demonstrates progress in cost control and operational management. The company remains focused on strengthening its financial position and improving performance in future reporting periods.<\/p>\n
PECO’s condensed interim financial statements, including the Statement of Profit and Loss, Statement of Financial Position, Statement of Changes in Equity, and Statement of Cash Flows, have been submitted in accordance with applicable regulatory requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"
PECO Reports Improved Financial Performance Despite Continued Losses for Half-Year Ended December 2019 Pakistan Engineering Company Limited (PECO) has announced its financial results for the six-month period ended December 31, 2019. The Board of Directors, in its meeting, approved the condensed interim financial statements and informed shareholders that no cash dividend, bonus shares, or right […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[127],"tags":[55],"class_list":["post-302","post","type-post","status-publish","format-standard","hentry","category-pakistan-engineering-company-limited-peco-psx","tag-financial-results","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts\/302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=302"}],"version-history":[{"count":1,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts\/302\/revisions"}],"predecessor-version":[{"id":303,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=\/wp\/v2\/posts\/302\/revisions\/303"}],"wp:attachment":[{"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finance.brands.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}