Attock cement posts 194% profit growth
KARACHI: Attock Cement Pakistan Limited (ACPL) registered phenomenal growth of 194 percent in its net profit in the 1st quarter of 2009 on the back of heavy growth in its sales and gross level margins.
Net profit came to Rs317 million in January-March 2009 against Rs108 million in the corresponding period of previous year.
Earnings per share (eps) also jumped to Rs 4.41 in the period under review from Rs 1.50 in the same period of previous year.
The total sales of the company rose to Rs 2.374 billion in the said period against Rs 1.470 billion last year. This huge upsurge in sales was caused by 29 percent and 45 percent respective increases in volumetric sales and retention levels during the period. However, cost of sales also increased to Rs 1.765 billion in first three months of current year from Rs 1.219 billion in the previous year.
The jump in cost of sales was triggered by higher imported coal prices. However finance cost decreased Rs 32.053 million compared to Rs 36.165 million and helped to dilute the high cost of imported coal in the company’s overall earnings. staff report
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| Sunday, January 21, 2007
