The Attock Cement Pakistan Limited at the 58th meeting of the board of directors on February 16 has declared that profit in the six months ended on December 31, 2004 increased by 81 percent due to higher sales in the core market of Karachi. Clinker production and cement sales increased by 13 percent and 20 percent, respectively. The profit amounted to Rs 341.731 million as compared to Rs 192.704 million in the same period a year ago. Sales recorded an increase of 54 percent to Rs 1,258.867 million as compared with Rs 816.906 million in the same period last year.

The company was the first to penetrate the Gulf market and exported 63,000MT clinker and 21,980MT falcon brand cement to UAE, Qatar, Iraq and Afghanistan markets during the half year to December 31, 2004.

The earning per share moved up 81 percent to Rs 3.19 from Rs 1.76 in the same period last year.

Line-2 project was financed to the extent of Rs 350 million through internal cash generation. Work on Line-2 project is progressing satisfactorily and is expected to be completed ahead of schedule.-PR

Copyright Business Recorder, 2005