Financial results of Hinopak Motors Limited for period ended June 30, 2016
Karachi, Hinopak Motors Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on July 22, 2016.
The agenda of the meeting was discussion of profit and loss account for quarter ended June 30, 2016 which portrayed a profit of Rs. 73,539 with earnings per share 5.93 basic and diluted.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Hinopak Motors Limited is a company incorporated in Pakistan as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is assembly, manufacture and sale of Hino buses and trucks. The company also sells buses and trucks in the international market. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located at Karachi.
The company is a subsidiary of Hino Motors Limited Japan and the ultimate parent of the company is Toyota Motors Corporation Japan. In 1998, Hino Motors Limited and Toyota Tsusho Corporation obtained majority shareholding in the company after disinvestments by the other two founding sponsors. It has over 50% share in the Pakistani Truck and Bus industry.
The symbol “HINO” is being used by the stock exchanges for the shares of Hinopak Motors Limited.