Imperial Chemical Industries Limited posts 893 million profits after tax
Karachi, February 21, 2013 (PPI-OT): The Board of Directors of ICI Pakistan Limited is pleased to announce the financial results for the year ended December 31, 2012. The company posted net sales income of PKR 34.7 billion for the year which is 2% lower than last year mainly due to lower volumes and prices in the Polyester Business where volumes were dampened due to deteriorating energy crises affecting downstream demand. Operating results were down by 37% primarily on account of lower PSF volumes and significant reduction in margin over feedstock.
The results were further dragged down due to extended gas outages in the Polyester and Soda Ash Business resulting in incremental expenditure on expensive alternate fuel amounting to approximately PKR 407 million. Profit after tax from continuing operations at PKR 893 million is 42% lower than last year and EPS (earnings per share) from continuing operations at PKR 9.67 was 27% lower than last year.
For more information, contact:
Manager Corporate Communications and Public Affairs
ICI Pakistan Limited
Tel: +9221 3531 3821 – 24
Fax: +9221 3531 3832