Attock Cement earns Rs 127m in H1

By Azhar Ali Khan

KARACHI: Attock Cement Company Ltd recently announced 1H-FY04 result depicts an outstanding performance as it posted a net profit of Rs127 million (EPS: Rs1.76) as compared to 1H-FY03 PAT of Rs72.4 million (EPS: Rs1.0) - a 76 per cent increase Y-o-Y basis.

The company did not announce any interim dividend during the first half of the current fiscal.

During 1H-FY04, it’s cement production shot up by 12 per cent period on period basis while the aggregate sales volume of the company surged by 10 per cent on the back of increase in the overall cement demand that registered a growth of about 8 per cent as compared to the same period last year.

During the first half of the current fiscal, the total capacity utilisation of the company remained 84 per cent as compared to the total capacity utilisation of 72 per cent in the same period last year (this is fairly above the average utilised capacity of the cement sector).

The total sales volume of the cement industry increased by 14 per cent during 1H-FY03 due to an increase in the cement demand in the country. "However, the cement demand in the Southern Zone remained sluggish and declined by 2 per cent," said Humaira Zaheer of Capital One Equities.

jang.co.pk

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