Karachi, February 20, 2014 (PPI-OT): The Board of Directors of ICI Pakistan Limited announced the financial results for the 2nd quarter ended December 31, 2013. The Company posted an after tax profit for the six months ended December 31, 2013 of PKR 765.3 million which is 63% above the same period last year.
Net sales income for the six months at Rs 18,618 million is 4% higher than the same period last year primarily due to higher sales in the Life Sciences and Chemicals businesses. Operating result for the period at Rs 1,101 million is higher by 35% compared to the same period last year due to strong growth in Soda Ash, achieved through a combination of cost optimization measures and operating efficiencies.
The Life Sciences business performance was positively impacted largely due to better product mix, which was further aided by a reduction in administration expenses that last year included one-off demerger costs.
Earnings per share for the six months ended December 31, 2013 at Rs8.29 i.e. 63% higher as compared to the same period last year.
Net sales income at PKR 18,618 million is 4% higher than same period last year.
Profit before tax at PKR 937.0 million is 30% higher than the same period last year.
For more information, contact:
CSR Coordinator and
Public Relations Manager
ICI Pakistan Limited
5 West Wharf PO Box 4731
Tell: 92 21 3231 8148, 92 21 3231 4646
Mobile: 92 300 823 8751