LAHORE – The HUBC has announced its FY12 result, posting earnings of Rs 8.2 billion, up 51 per cent YoY. Along with the result, the company has also announced a final cash dividend of Rs3/share that will take the total dividend to Rs 6/share. The improved earnings are primarily attributable to revised Narowal tariff, Rupee depreciation and uptick in its tariff profile. The top line of the company grew by 42 per cent YoY primarily due to pass through of higher furnace oil prices and coming online of Narowal project. Furthermore, the financial charges increased drastically by 109 per cent YoY. This hefty growth in financial charges is owing to financing facility associated with the Narowal project and due to the circular debt issue.