<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Net sales for BYCO Petroleum Pakistan Limited (BYCO)
declined 12%YoY, largely as a result of 39%YoY decrease in oil prices and lower
off-takes due to the pandemic.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Gross profit for BYCO improved significantly by 79%YoY
mainly on account of decreases in exchange losses compared to FY19.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">During FY20, LAT for BYCO clocked-in at PKR 2.9Bn, as
against a LAT of PKR 2.3Bn in FY19, mainly as a result of; i) Economic downturn
due to the pandemic situation which prevailed during the 2HFY20; ii) Squeezed
refinery margins; iii) Decline in FO consumption.</span></li><li><span style="font-famil...
