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Rs21.8b profit: Mamnoon lauds PSO CEO for 73% revenue growth

Rs21.8b profit: Mamnoon lauds PSO CEO for 73% revenue growth

ISLAMABAD: President Mamnoon Hussain has said that the business performance and profitability showed by the PSO has set new benchmarks for corporate sector and has proved that Pakistani public sector companies capable enough to compete with multinational companies.

President Mamnoon Hussain stated this while greeting Pakistan State Oil (PSO) MD and CEO Amjad Parvez Janjua on the oil marketing company’s outstanding performance in current financial year of 2014.

During the meeting, the president appreciated the company’s performance and market strategy and expressed the hope that it would set new standards of profitability in the future.

It is to be noted that Financial year 2014 remained momentous for the PSO as the company recorded high sales revenue, operating profit, after tax earnings and market capitalisation. During the year, the company earned a profit after tax of Rs21.8 billion against 12.6 billion last year with unprecedented YoY growth of 73%.