Attock Cement reports 41% growth in profit during 1HY19-20

On 21 January 2020, Attock Cement Pakistan Ltd (ACPL) announced its 1HFY19-20 financial results (for the period ended 31 December 2019).

According to a notification by Attock Cement to the Pakistan Stock Exchange (PSX), the company's consolidated profits after tax increased to PKR1.15bn (US$7.44m) during this period, from PKR816m earned in corresponding period of FY18. This translates an increase of 41.3 per cent on YoY basis, which was possible due to a sales increase to PKR12.45bn from PKR0.63bn during this period.

It incurred a higher distribution cost of PKR1.06bn and administrative expenses of PKR278m compared to PKR749m and PKR252m in the 1HFY19. The finance cost also increased to PKR359.6m from PKR300.5m during this accounting period.

Attock Cement plant is situated at Hub Chowki, Lasbela in Baluchistan. The plant has production capacity of 2.995Mt of cement.