POL Earnings Expectation HY’09

POL Earnings Expectation HY'09 Pakistan Oilfields Limited (POL) is expected to declare its financial result for HY'09 today. We expect the company to post net income of Rs. 4.10 billion (EPS: Rs. 17.33) during this period as compared to Rs. 3.72 billion (EPS: Rs. 15.72) in HY'08, depicting an increase of 10.2% y-o-y. Our full years earnings expectation for the stock is PAT of Rs6.35 billion (EPS: Rs26.84) as compared to Rs8.62 billion (EPS: Rs36.43) in FY'08. We expect the company to declare cash dividend of Rs14.0 for FY'09