Bank Alfalah earns PAT Rs8.3bn KARACHl: Bank Alfalah Limited announced itsprofit after tax (PAT) of Rs8.367 billion for the year 2017, up 5.9 per cent against Rs7.9bn last year.

This translated into an earnings per share) of Rs5.21 per share from Rs4.93 per share in 2016.

The board has recommended a final cash dividend of Rs1.5 per share (15pc) for the year ended December 31, 2017, subject to approval of the shareholders in the upcoming annual general meeting.-Staff ReporterSNGPL results KARACHl: The Sui Northern Gas PipelinesLimited (SNGPL) reported profit after tax (PAT) at Rs1.94 billion and earnings per share (EPS) at Rs3.06 for the quarter ended Dec 31, 2017, against PAT at Rs2.20bn and EPS at Rs3.47 in the corresponding quarter of 2016.

Net gas sales for the latest quarter stood at Rs110.8bn against Rs77.9bn year-on-year (YoY).

For the half year, PAT amounted to Rs3.86bn and EPS at Rs6.08 showing increase from Rs3.60bn and EPS at Rs5.68. Net sales for half term were Rs204.5bn, up from Rs152.3bn YoY.-Equities CorrespondentGE reshapes board after cutting profits i BOSTON: General Electric Co is reshaping itsboard of directors after revealing earlier that it would be forced to retroactively cut the profits reported over the past two years.

GE said on Friday that it must cut its 2016 pershare earnings by 13 cents, and by 16 cents for 2017.

It`s adopting new accounting standards for 2018.

After cutting the size of its board from 18 to 12 members, General Electric Co. said on Monday that a quarter of that board would consist of new members.

The Securities and Exchange Commission investigating the company over long-term service contracts and federal regulators are reviewing a $15 billion miscalculation that GE made within an insurance unit.-AP