News & Announcements

News & Announcements

NCL 1st Quarter Results FY 2024-25
Published: October 29, 2024

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on October 29, 2024 has approved the accounts for the quarter ended September 30, 2024. The Company registered a Profit after tax of PKR 35.1 million in the said quarter with an EPS of PKR 0.15 against Profit after tax of PKR 506.6 million with an EPS of PKR 2.11 in the corresponding quarter of last financial year.

Result of Poll held for Special Resolutions at NCL’s AGM-2024
Published: October 28, 2024
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NCL Notice of AGM
Published: October 07, 2024
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NCL Annual Results 2024
Published: September 26, 2024

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on September 26, 2024, has approved the final accounts for the year ended June 30, 2024. The Company registered a Profit after tax of PKR 692 million in the financial year 2023-24, with a positive EPS of PKR 2.88 against a loss after Tax of PKR 999 million and an EPS of PKR (4.16) in the last financial year.

NCL-Result of Poll Held for Special Business -17-08-2024
Published: August 17, 2024
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NCL Notice of EOGM
Published: July 26, 2024
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NCL 3rd Quarter Results FY 2023-24
Published: April 30, 2024

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 30, 2024 has approved the accounts for the nine months ended March 31, 2024. The Company registered a Loss after tax of PKR 23.6 million in the said nine months with a negative EPS of PKR 0.10 against a Loss after Tax of PKR 1,447.3 million with a negative EPS of PKR 6.03 in the corresponding nine months of last financial year.

NCL Election of Directors
Published: April 16, 2024
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NCL Director’s Profile for Election of Directors
Published: April 09, 2024
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NCL Notice u/s 159(4) of the Companies Act, 2017 (Election of Directors)
Published: April 09, 2024
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NCL Notice of EOGM (Election of Directors)
Published: March 26, 2024
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NCL Half Yearly Results FY 2023-24
Published: February 28, 2024

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 28, 2024 has approved the accounts for the half year ended December 31, 2023. The Company registered a Loss after tax of PKR 404.8 million in the said half year with a negative EPS of PKR 1.69 against a Loss after Tax of PKR 1,836.5 million with a negative EPS of PKR 7.65 in the corresponding half year of last financial year.

NCL Corporate Briefing Session 2023
Published: November 20, 2023
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NCL 1st Quarter Results FY 2023-24
Published: October 30, 2023

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on October 30, 2023 has approved the accounts for the quarter ended September 30, 2023. The Company registered a Profit after tax of PKR 506.6 million in the said quarter with an EPS of PKR 2.11 against a Loss after Tax of PKR 130.8 million with a negative EPS of PKR 0.54 in the corresponding quarter of last financial year.

Result of Poll held for Special Resolutions at NCL’s AGM
Published: October 27, 2023
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NCL AGM Notice
Published: October 06, 2023
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NCL Annual Results 2023
Published: September 28, 2023

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on September 28, 2023, has approved the final accounts for the year ended June 30, 2023. The Company registered a Loss after tax of PKR 999 million in the financial year 2022-23, with a negative EPS of PKR 4.16 against a Profit after Tax of PKR 7,468 million and an EPS of PKR 31.10 in the last financial year.

NCL 3rd Quarter Results FY 2023
Published: April 28, 2023

The Board of Directors of Nishat (Chunian) Limited in its meeting held on April 28, 2023, has approved the accounts for the nine months ended March 31, 2023. The Company registered a Loss after tax of PKR 1,447.34 million and a negative EPS of PKR 6.03 in the said period, against a profit after tax of PKR 6,747.42 million and an EPS of PKR 28.10 in the corresponding period of the last financial year.

NCL Half yearly Results 2023
Published: February 28, 2023

The Board of Directors of Nishat (Chunian) Limited in its meeting held on February 28, 2023, has approved the accounts for the half year ended December 31, 2022. The Company registered a Loss after tax of PKR 1,836.52 million and a negative EPS of PKR 7.65 in the said period, against a profit after tax of PKR 4,709.23 million and an EPS of PKR 19.61 in the corresponding period of the last financial year.

NCL Corporate Briefing Session
Published: November 18, 2022
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NCL 1st Quarter Results 2023
Published: October 28, 2022

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 28, 2022, has approved the accounts for the quarter ended September 30, 2022. The Company registered a Loss after tax of PKR 130.83 million and a negative EPS of PKR 0.54 in the said quarter, against a profit after tax of PKR 2,217.07 million and an EPS of PKR 9.23 in the corresponding period of the last financial year.

NCL AGM Notice
Published: October 06, 2022
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NCL Annual Results 2022
Published: September 29, 2022

The Board of Directors of Nishat (Chunian) Limited in its meeting held on September 29, 2022 has approved the final accounts for the year ended June 30, 2022 and proposed a final cash dividend for the year ended June 30, 2022 at Rs. 4 per share i.e., 40% which is yet to be approved by shareholders in their AGM to be held on October 27, 2022. The Company registered a profit after tax (PAT) of PKR 7,468 million in the year 2021-22, with an EPS of PKR 31.10 as against a PAT of PKR 5,599 million and an EPS of PKR 23.32 in the last year.

NCL 3rd Quarter Results 2022
Published: May 06, 2022

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 29, 2022, has approved the accounts for the nine months ended March 31, 2022. The Company registered profit after tax (PAT) of PKR 6,747.419 million in the said period, translating into EPS of PKR 28.10, against profit after tax of PKR 3,213.275 million and EPS of PKR 13.38 in the corresponding period last year..

Corrigendum to the Notice (dated March 21, 2022) of EOGM of Nishat Chunian Limited
Published: April 07, 2022

It is to inform you that the EOGM of NCL will be held on 11th April, 2022 at 10:30 am instead of 10:00 am.

NCL EOGM Notice
Published: March 24, 2022
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NCL Half Yearly Results 2022
Published: February 24, 2022

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 21, 2022, has declared an interim dividend of Rs. 3 per ordinary share and approved the accounts for the half year ended December 31, 2021. The Company registered profit after tax (PAT) of Rs. 4,709.226 million in the said period, translating into EPS of Rs. 19.61 as against profit after tax of Rs. 1,354.014 million and EPS of Rs. 5.64 in the corresponding period last year.

NCL 1st Quarter Results 2022
Published: October 29, 2021

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on October 29, 2021, has approved the accounts for the three months ended September 30, 2021. The Company registered profit after tax (PAT) of Rs.2,217.07 million in the said period, translating into EPS of Rs. 9.23 as against profit after tax of Rs. 480.31 million and EPS of Rs. 2.00 in the corresponding period last year.

NCL Annual Results 2021
Published: September 28, 2021

The Board of Directors of Nishat (Chunian) Limited in its meeting held on September 28, 2021 has proposed 50% cash dividend for the year ended June 30, 2021, which is yet to be approved by shareholders on their AGM to be held on October 28, 2021. The Company registered profit after tax (PAT) of Rs.5,598.85 mn in year 2020-21, translating into EPS of Rs. 23.32 as against PAT of Rs.265.36 mn mn (EPS Rs. 1.11) in the corresponding period last year.

NCL 3rd Quarter Results 2021
Published: April 30, 2021

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 30, 2021, has approved the accounts for the nine months ended March 31, 2021. The Company registered profit after tax (PAT) of Rs. 3,213.275 mn in the said period, translating into EPS of Rs. 13.38 as against profit after tax of Rs. 352.003 mn and EPS of Rs. 1.47 in the corresponding period last year.

NCL Election of Directors
Published: April 16, 2021
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NCL Director’s Profile for Election of Directors
Published: April 09, 2021
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NCL Ballot Paper for Election of Directors
Published: April 09, 2021
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NCL Notice U/S 159(4) of the Companies Act, 2017 (Election of Directors)
Published: April 09, 2021
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NCL EOGM Notice (Election of Directors)
Published: March 26, 2021
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NCL Half Yearly Results 2021
Published: February 25, 2021

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 25, 2021 has approved the accounts for the half year ended December 31, 2020. The Company registered profit after tax (PAT) of Rs. 1,354.014 mn in the said period, translating into EPS of Rs. 5.64 as against profit after tax of Rs. 522.185 mn EPS Rs. 2.17 in the corresponding period last year.

NCL 1st Quarter Results 2021
Published: October 29, 2020

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 29, 2020, has approved the accounts for the quarter ended September 30, 2020. The Company registered profit after tax (PAT) of Rs. 480.31 mn in the said quarter, translating into EPS of Rs. 2.00 as against profit after tax of Rs. 173.26 mn EPS Rs. 0.72 in the corresponding period last year.

Business Expansion through Investment in Foreign Companies
Published: October 29, 2020

The management of the Company has planned to expand its retail business in global market. For this purpose it intends to incorporate two Companies in Dubai and has provided approval for investment/trade credit/advance of upto USD 1 million.

NCL AGM Notice
Published: October 06, 2020
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NCL Annual Results 2020
Published: October 02, 2020

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 02, 2020 has proposed 10% cash dividend for the year ended June 30, 2020, which is yet to be approved by shareholders on their AGM to be held on October 28, 2020. The Company registered profit after tax (PAT) of Rs.265.36 mn in year 2019-20, translating into EPS of Rs. 1.11 as against PAT of Rs. 3,167.59 mn (EPS Rs. 13.19) in the corresponding period last year.

Merger of NC Electric Company Limited with Nishat (Chunian) Limited
Published: July 21, 2020

The Honorable Lahore High Court, has approved the Scheme for Compromises, Arrangements and Reconstruction between Nishat (Chunian) Limited (NCL) and its wholly owned subsidiary NC Electric Company Limited (NCECL). Hereby NCECL is merged with NCL with effect from 30th June, 2020.

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NCL 3rd Quarter Results 2020
Published: April 30, 2020

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 30, 2020, has approved the accounts for the nine months ended March 31, 2020. The Company registered profit after tax (PAT) of Rs. 352.003 mn in the said period, translating into EPS of Rs. 1.47 as against profit after tax of Rs. 2,440.958 mn and EPS of Rs. 10.16 in the corresponding period last year.

NCL EOGM Notice
Published: March 10, 2020
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NCL Half Yearly Results 2020
Published: February 27, 2020

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 27, 2020, has approved the accounts for the half year ended December 31, 2019. The Company registered profit after tax (PAT) of Rs.522.185 mn in the said period, translating into EPS of Rs. 2.17 as against profit after tax of Rs. 2,018.076 mn EPS Rs. 8.40 in the corresponding period last year.

NCL 1st Quarter Results 2020
Published: October 29, 2019

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 29, 2019, has approved the accounts for the quarter ended September 30, 2019. The Company registered profit after tax (PAT) of Rs. 173.26 mn in the said quarter, translating into EPS of Rs. 0.72 as against profit after tax of Rs. 851.86 mn EPS Rs. 3.55 in the corresponding period last year.

NCL Annual Results 2019
Published: October 04, 2019

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 4, 2019 has proposed 25% cash dividend for the year ended June 30, 2019, which is yet to be approved by shareholders on their AGM to be held on October 28, 2019. The Company registered profit after tax (PAT) of Rs.3,167.59 mn in year 2018-19, translating into EPS of Rs. 13.19 as against PAT of Rs. 2,363.08 mn (EPS Rs. 9.84) in the corresponding period last year.

NCL AGM Notice
Published: October 04, 2019
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NCL - Buy Back Of Shares
Published: September 02, 2019
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NCL EOGM Notice
Published: August 09, 2019
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NCL Corporate Briefing Session
Published: May 28, 2019
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NCL 3rd Quarter Results 2019
Published: April 30, 2019

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 30, 2019, has approved the accounts for the nine months ended March 31, 2019. The Company registered profit after tax (PAT) of Rs. 2,440.958 mn in the said period, translating into EPS of Rs. 10.16 as against profit after tax of Rs. 1,203.474 mn and EPS of Rs. 5.01 in the corresponding period last year.

NCL Corporate Briefing Session
Published: April 29, 2019
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NCL Half Yearly Results 2019
Published: February 28, 2019

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 27, 2019, has proposed 15% cash dividend and approved the accounts for the half year ended December 31, 2018. The Company registered profit after tax (PAT) of Rs. 2,018.076 mn in the said period, translating into EPS of Rs. 8.40 as against profit after tax of Rs. 492.072 mn EPS Rs. 2.05 in the corresponding period last year.

NCL 1st Quarter Results 2019
Published: October 29, 2018

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 29, 2018, has approved the accounts for the quarter ended September 30, 2018. The Company registered profit after tax (PAT) of Rs. 851.86 mn in the said quarter, translating into EPS of Rs. 3.55 as against loss after tax of Rs. 95.14 mn EPS Rs. (0.40) in the corresponding period last year.

NCL Annual Results 2018
Published: October 26, 2018

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 2, 2018 has proposed 40 % cash dividend for the year ended June 30, 2018, which was subsequently approved by shareholders on their AGM held on October 26, 2018. The Company registered profit after tax (PAT) of Rs. 2,363.08 mn in year 2017-18, translating into EPS of Rs. 9.84 as against PAT of Rs. 1,621.33 mn (EPS Rs. 6.75) in the corresponding period last year.

NCL AGM Notice
Published: October 02, 2018
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NCL 3rd Quarter Results 2018
Published: April 26, 2018

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 26, 2018, has approved the accounts for the nine months ended March 31, 2018. The Company registered profit after tax (PAT) of Rs. 1,203.474 mn in the said period, translating into EPS of Rs. 5.01 as against profit after tax of Rs. 1,400.648 mn and EPS of Rs. 5.83 in the corresponding period last year.

NCL Adjournment Notice
Published: March 30, 2018
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NCL Notice
Published: March 27, 2018
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NCL Notice Under Sec159(4) of Companies Act
Published: March 22, 2018
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NCL EOGM Notice
Published: March 09, 2018
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Ballot Paper For Voting through Post for Election of Directors
Published: March 04, 2018
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Election of Directors
Published: March 04, 2018
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NCL Half Yearly Results 2018
Published: February 28, 2018

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 27, 2018, has approved the accounts for the half year ended December 31, 2017. The Company registered profit after tax (PAT) of Rs. 492.072 mn in the said period, translating into EPS of Rs. 2.05 as against profit after tax of Rs. 1,124.876 mn EPS Rs. 4.68 in the corresponding period last year.

NCL 1st Quarter Results 2018
Published: October 26, 2017

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on October 26, 2017, has approved the accounts for the quarter ended September 30, 2017. The Company registered loss after tax of Rs. 95.14 mn in the said quarter, translating into EPS of Rs. (0.40) as against profit after tax of Rs. 564.69 mn EPS Rs. 2.35 in the corresponding period last year.

NCL Annual Results 2017
Published: September 23, 2017

The Board of Directors of Nishat (Chunian) Limited in its meeting held on September 22, 2017 has proposed 27.5% cash dividend for the year ended June 30, 2017, which was subsequently approved by shareholders on their AGM held on October 23, 2017. The Company registered profit after tax (PAT) of Rs. 1,621.33 mn in year 2016-17, translating into EPS of Rs. 6.75 as against PAT of Rs. 1,328.77 mn (EPS Rs. 5.59) in the corresponding period last year.

NCL AGM Notice
Published: September 22, 2017
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NCL 3rd Quarter Results 2017
Published: April 30, 2017

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 28, 2017, has approved the accounts for the nine months ended March 31, 2017. The Company registered profit after tax (PAT) of Rs. 1,400.648 mn in the said period, translating into EPS of Rs. 5.83 as against profit after tax of Rs. 764.615 mn EPS Rs. 3.18 in the corresponding period last year.

NCL Half Yearly Results 2017
Published: February 28, 2017

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 24, 2017, has approved the accounts for the half year ended December 31, 2016. The Company registered profit after tax (PAT) of Rs. 1,124.876 mn in the said period, translating into EPS of Rs. 4.68 as against profit after tax of Rs. 697.351 mn EPS Rs. 2.96 in the corresponding period last year.

NCL 1st Quarter Results 2017
Published: October 31, 2016

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on October 28, 2016, has approved the accounts for the quarter ended September 30, 2016. The Company registered profit after tax (PAT) of Rs. 564.69 mn in the said quarter, translating into EPS of Rs. 2.35 as against profit/(loss) after tax of Rs. (108.16) mn EPS Rs. (0.45) in the corresponding period last year.

NCL Annual Results 2016
Published: October 31, 2016

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 4, 2016 has proposed 25% cash dividend for the year ended June 30, 2016. Which was subsequently approved by shareholders on their AGM held on October 31, 2016. The Company registered profit after tax (PAT) of Rs. 1,328.77 mn in year 2015-16, translating into EPS of Rs. 5.59 as against PAT of Rs. 800.42 mn (EPS Rs. 3.79) in the corresponding period last year.

NCL AGM Notice
Published: October 05, 2016
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NCL 3rd Quarter Results 2016
Published: May 05, 2016

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 28, 2016 has approved the accounts for the nine months ended March 31, 2016. The Company registered profit after tax (PAT) of Rs. 764.615 mn in the said period, translating into EPS of Rs. 3.23 as against PAT of Rs. 532.533 mn EPS Rs. 2.25 in the corresponding period last year.

NCL Half Yearly Results 2016
Published: February 28, 2016

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 25, 2016 has approved the accounts for the half year ended December 31, 2015. The Company registered profit after tax (PAT) of Rs. 697.351 mn in the said period, translating into EPS of Rs. 2.96 as against PAT of Rs. 805.517 mn EPS Rs. 3.35 in the corresponding period last year.

NCL 1st Quarter Results 2016
Published: January 07, 2016

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on October 29, 2015 has approved the accounts for the quarter ended September 30, 2015. The Company registered loss after tax of Rs. 108.16 mn in the said quarter, translating into EPS of Rs. (0.53) as against loss after tax of Rs. 238.49 mn EPS Rs. (1.19) in the corresponding period last year.

NCL Annual Results 2015
Published: November 12, 2015

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 5, 2015 announced 15% cash dividend for the year ended June 30, 2015. The Company registered profit after tax (PAT) of Rs. 800.42 mn in year 2014-15, translating into EPS of Rs. 4.0 as against PAT of Rs. 761.29 mn (EPS Rs. 3.80) in the corresponding period last year.

NCL 3rd Quarter Results 2015
Published: May 05, 2015

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 20, 2015 has approved the accounts for the nine months ended March 31, 2015. The Company registered profit after tax (PAT) of Rs. 532.53 mn in the said period, translating into EPS of Rs. 2.66 as against PAT of Rs. 1,345.01 mn EPS Rs. 6.72 in the corresponding period last year.

NCL EOAGM Notice
Published: April 22, 2015
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NCL Half Yearly Results 2015
Published: February 28, 2015

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 24, 2015 has approved the accounts for the half year ended December 31, 2014. The Company registered profit after tax (PAT) of Rs. 325.49 mn in the said period, translating into EPS of Rs. 1.63 as against PAT of Rs. 1,266.64 mn EPS Rs. 6.33 in the corresponding period last year

NCL EOAGM Notice
Published: December 08, 2014
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NCL 1st Quarter Results 2014 - 2015
Published: November 05, 2014

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on October 29, 2014, has approved the accounts for the quarter ended September 30, 2014. The Company registered profit/(Loss) after tax (PAT) of Rs. (238.48) mn in the said quarter, translating into EPS of Rs. (1.19) as against PAT of Rs. 223.80 mn (EPS Rs. 1.12) in the corresponding period last year.

NCL Annual Results 2014
Published: October 10, 2014

The Board of Directors of Nishat (Chunian) Limited in its meeting held on September 26, 2014 announced 10% cash dividend for the year ended June 30, 2014. The Company registered profit after tax (PAT) of Rs. 761.29 mn in year 2014-15, translating into EPS of Rs. 3.80 as against PAT of Rs. 2,276.16 mn (EPS Rs. 11.37) in the corresponding period last year

NCL AGM Notice
Published: October 10, 2014
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NCL 3rd Quarterly Results 2014
Published: April 30, 2014

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on April 26, 2014, has approved the accounts for the nine months ended March 31, 2014. The Company registered profit after tax (PAT) of Rs. 1,345 million in the said period, translating into EPS of Rs. 6.72 as against PAT of Rs. 1,723 million (EPS - restated Rs. 8.61) in the corresponding period last year.

NCL Half Yearly Results 2014
Published: February 28, 2014

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on 18 February 2014, has approved the accounts for the half year ended 31 December 2013. The Company registered profit after tax (PAT) of Rs. 1,267 million in the said half year, translating into EPS of Rs. 6.33 as against PAT of Rs. 990 million (EPS - restated Rs. 4.94) in the corresponding period last year.

NCL Quarterly Reuslts 2014
Published: October 31, 2013

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on October 30, 2013, has approved the accounts for the quarter ended September 30, 2013. The Company registered profit after tax (PAT) of Rs. 224 mn in the said quarter, translating into EPS of Rs. 1.23 as against PAT of Rs. 375 mn (EPS Rs. 2.06) in the corresponding period last year.

NCL Annual Results 2013
Published: October 07, 2013

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 4, 2013 announced 20% cash and 10% bonus dividend for the year ended June 30, 2013. The Company registered profit after tax (PAT) of Rs. 2,276 mn in year 2012-13, translating into EPS of Rs. 12.51 as against PAT of Rs. 699 mn (EPS Rs. 3.88) in the corresponding period last year.

NCL Half Yearly Results 2013
Published: February 25, 2013

The Board of Directors of Nishat (Chunian) Limited, in its meeting held on February 25, 2013, has approved the accounts for the Half Year ended December 31, 2012. The Company registered profit after tax (PAT) of Rs. 989.9 million in current half year, translating into EPS of Rs. 5.44 as against PAT of Rs. 47.982 million (EPS Rs. 0.25) in the corresponding half year.

NCL Quarterly Results 2013
Published: October 31, 2012

The quarterly report of NCL for the quarter ended September 30, 2012 has been uploaded. During the said quarter the company registered a post-tax profit of Rs. 375 million and posted an EPS of Rs. 2.27

NCL Annual Results 2012
Published: October 05, 2012

The Board of Directors of Nishat (Chunian) Limited in its meeting held on October 4, 2012 announced 20% cash and 10% bonus dividend for the year ended June 30, 2012. The Company registered profit after tax (PAT) of Rs. 699 mn in year 2011-12, translating into EPS of Rs. 4.28 as against PAT of Rs. 1,459 mn (EPS Rs. 8.8) in the corresponding period last year.