ARL profit after tax increases to Rs2.734bn

RECORDER REPORT

KARACHI: The profit after tax of Attock Refinery Limited (ARL) has increased to Rs 2.734 billion in the year ended June 30, 2012 (FY12) as compared to Rs 2.185 billion earned in FY11.

The company’s earning per share from refinery operations increased to Rs 13.44 in FY12 against Rs 13.10 in FY11 while from non-refinery operations per share earning increased to Rs 18.63 against Rs 12.53.

The board of directors of the company in its meeting held on Monday at Dubai, UAE recommended a final cash dividend for the year ended June 30, 2012 at Rs 6 per share i.e. 60 per cent. This is in addition to interim dividend already paid at Rs 1.50 per share i.e. 15 per cent.

According to the financial results sent to Karachi Stock Exchange on Monday, the company’s sales increased to Rs 154.381 billion in FY12 against Rs 116.388 billion in FY11 while the company’s cost of sales increased to Rs 152.362 billion against Rs 114.900 billion.

The company’s profit before taxation from refinery operations increased to Rs 2.771 billion against Rs 2.492 billion while profit after taxation from refinery operations increased to Rs 1.146 billion against Rs 1.117 billion.