<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Engro Corporation Limited (ENGRO) held its analyst briefing
yesterday to shed light on its financial results for CY19. The company’s
earnings jumped by 30% YoY to PKR 28.69/sh in addition to a total dividend
payout of PKR 24.00/sh.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">ENGRO’s 4Q earnings were lower than industry estimates due
to several one-offs including FCEPL’s impairment, Vopak’s tax adjustment, SAP
implementation costs, HR training and development costs, IFRS 16’s
implementation, and project feasibility costs. These one-offs caused ENGRO’s
other expenses to surge by 5x QoQ to PKR 4,787mm during 4QCY19.</span></li><li><span style="font-family:Arial, Helvetica, san...
