Middle East Economic Survey


No 46



Parco Announces 25% Rise In Net Profits

At its 30th Annual General Meeting at the end of September, the Pak-Arab Refinery Company (Parco) announced a 25% increase in net profits Rs4.43bn ($75mn) for the year ended 30 June 2004, and a record dividend of Rs2bn ($33mn), up by 67% on the previous year. It was also revealed that the shareholders equity and the asset base of the company had risen to Rs22.9bn and Rs88.6bn respectively, from...