Corporate Results: Azgard profit declines

The profit after tax of Azgard Nine Limited has declined to Rs 172.358 million in the first half of 2007 as compared to Rs 310.706 million earned in the corresponding period in 2006. The earning per share of the company stood at Rs 0.46 in the period under review against Rs 1.77 in the same period last year.
The Karachi Stock Exchange (KSE) was informed that the net sales of the company increased to Rs 3,136.475 million in this period against Rs 2,156.639 million in the same period last year. The company's other operating income declined to Rs 99.478 million against Rs 104.480 million.
On the other hand, the administrative and selling expenses of the company increased to Rs 162.393 million in the six-month period against Rs 149.889 million in the same period in 2006.