Pakistan: Attock full-year profit rises

Attock Cement reported an after-tax profit of PKR2.21bn (US$21.7m) in FY14-15, up 9.5 per cent compared to PKR2bn in the last fiscal year.

Revenues climbed 4.3 per cent to PKR13bn during the review period compared to PKR12.5bn, AKD Research said in its report.

The company’s gross margins, which improved by 407 basis points to 33.6 per cent in FY15, also contributed to the net earnings, the report said.

The results were accompanied with an announcement of the company’s expansion plans. In a notice sent to the Karachi Stock Exchange (KSE) on Thursday, Attock Cement announced the expansion of its production capacity by installing a US$120m cement plant at the existing facility in Hub, Balochistan.