For the 1H CY07 ended June, ICI Pakistan“s five business segments saw growth of 27%, with after tax profit of PKR 740.9 million and EPS of PKR 5.34 compared to PKR 584 million and EPS of PKR 4.21 for…
For the 1H CY07 ended June, ICI Pakistan“s five business segments saw growth of 27%, with after tax profit of PKR 740.9 million and EPS of PKR 5.34 compared to PKR 584 million and EPS of PKR 4.21 for the 1H CY06. Operating profit contributed by the Soda Ash business increased by 45% during 2Q CY07 compared to 2Q CY06. The increase is mainly due to an increase in production (up 13%), sales volume (up 5%), capacity expansion, and a jump in gross margins to 31% from 28% in the previous year. Soda Ash capacity utilization was recorded at 96%, while the shut down of two glass manufacturers for repairs lowered sales of Dense Soda Ash. Gross margins are expected to remain strong at 32% for rest of the year.