ICI Pakistan cuts six-month losses

ICI Pakistan Ltd., the producer of polyester staple fibre, soda ash, agro-chemicals, pharmaceuticals and chemicals, said in August that it had cut its post-tax losses for the six months to June 30 to …

ICI Pakistan Ltd., the producer of polyester staple fibre, soda ash, agro-chemicals, pharmaceuticals and chemicals, said in August that it had cut its post-tax losses for the six months to June 30 to INR 131 million (US$ 2.04 million) against INR 1.065 billion in the same period of 2000. Net sales increased from INR5,142 million to INR 8,014 million, while operating profit was up from INR 658 million to INR 408 million. Financial charges also increased to INR 1,472 million from INR 911 million the previous year. Pre-tax losses saw a major increase from INR 106 million in 2000 to INR 1,025 million this year, with post-tax losses up to INR 1,065 million from INR 131 million the previous year.