Financial results of Lotte Chemicals Pakistan Limited for period ended June 30, 2016
Karachi, Lotte Chemicals Pakistan Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August 23, 2016.
The agenda of the meeting was discussion of profit and loss account for six months period and quarter ended June 30, 2016 which portrayed a loss of Rs. 9,526 with loss per share 0.01 basic and diluted and a profit of Rs. 172,488 with earnings per share 0.11 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Lotte Chemical Pakistan Limited formerly Lotte Pakistan PTA Limited is incorporated in Pakistan. The company is engaged in the manufacture and sale of Pure Terephthalic Acid an essential raw material used in the polyester industry. The company is also engaged in manufacturing Polyester Staple Fibre, Filament Yarn and PET resin. The production capacity of the plant is around 500,000 tons per annum. It is a subsidiary of Lotte Chemical Corporation and the ultimate parent company is South Korean conglomerate Lotte. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Karachi.
The symbol “LOTCHEM” is being used by the stock exchanges for the shares of Lotte Chemicals Pakistan Limited.