Attock Petroleum profits dip 12.32pc for July-December 2017

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LAHORE: Attock Petroleum Limited reported a 12.32 percent dip in profits for the half year ended 31st December 2017 on Wednesday.

Sales recorded a growth of 24.2 percent, touching Rs94.864 million for the half year ended 31st December 2017 against Rs76.354 at end of 2016. Sales tax increased 24.63 percent to Rs18.519 million during July-December 2017 against Rs14.859 million at end of 2016.

Gross profit increased 12.24pc, touching Rs4.398 million for July-December 2017 against Rs3.918 million at end of 2016. Other income registered a decline of 16.10 percent, reaching Rs0.413 million compared to Rs0.480 million at end of 2016.

Operating expenses surged up by 39pc, reaching Rs1.216 million during July-December 2017 compared to Rs0.875 million in December 2016. Finance income rose by 17.18 percent, reaching Rs0.654 million for first half of the year 2017-18 compared to Rs0.558 million in corresponding period of previous year.

Profits for July-December 2017 were recorded at Rs2.810 million, dipping 12.32 percent compared to Rs3.156 million at end of 2016.

Earnings per share were recorded at Rs33.88, down 12.33 percent for the period July-December 2017 compared to Rs38.06 at end of 2016. The company declared an interim cash dividend of Rs15.0 for the half year ended December 31st, 2017.

Attock Petroleum Limited, an oil marketing company, markets and supplies a range of petroleum products in Pakistan. The company also provides diesel engine, gasoline engine, and industrial grade lubricant products, as well as gear oils. Attock Petroleum Limited supplies fuels to various businesses, including manufacturing industries, armed forces, power sector etc.

APL shares were trading at Rs575.12, down Rs9.88 and KSE-100 index was trading at 45,012.87 points, up 105.67 points from close on Tuesday.