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October 30, 2009News : Engro Chemicals (Engro), Pakistan’s second largest urea manufacturer, said on Thursday in a letter to the Karachi Stock Exchange (KSE) that it planned to enter the rice processing and export business. It proposed setting up a rice processing plant in the province of Punjab which was expected to come online by the fourth quarter of 2010. "The plant is expected to cost 3.2 billion rupees with an equity injection required of 1.6 billion rupees," Engro said… Aaj News
Dividends : The Oil & Gas Development Company (OGDC) has announced a profit after tax of Rs12.06 billion for the first quarter ended September 30th. This is over 36 per cent lower than the Rs18.97 billion net earnings recorded in the same quarter in 2008. The board of directors approved first interim cash dividend at Re1 per share for fiscal year 2010. Total earnings for the quarter under review translated into earning per share of Rs2.81 against Rs4.41 in the corresponding quarter of FY09. The significant decline of 36 per cent in net earnings was apparently due to a notable 23 per cent fall in net revenues to Rs31.82 billion against Rs41.38 billion in the same quarter last year…The News
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