Pakistan: Attock Cement profits up 44%

Attock Cement Pakistan Ltd (ACPL) reported that it has earned profit after tax of PKR691m (US$6.6m) in 1QFY16-17 compared to PKR481m in 1QFY16, up 44 per cent YoY. According to ACPL notice to Pakistan Stock Exchange, its sales increased to PKR 3.35bn from PKR2.86bn of same quarter last year.
 
The company's distribution cost increased to PKR 273m and administrative expenses rose to PKR104m from PKR189m and PKR97m in a first quarter of year ago period.  
 
A local research house while commenting on the company performance stated that the growth in earnings was primarily a factor of  17 per cent YoY higher volumes, amid growth in dispatches, and expansion in margins following YoY lower fuel and power costs.