Millat Tractors managed to sell 32,000 tractors in FY12 – Alfalah Securities Limited

Karachi, July 03, 2012 (PPI-OT): Millat Tractors (MTL) has achieved the sale target of 32,000 in FY12 thereby, securing a market share of 64% in the local tractor industry.

According to Alfalah Securities Limited, the company managed to improve sales of tractors mainly due to reduction in sales tax from 16% to 5%. MTL has reported profit after tax of PkR 1.197 bn (EPS: PkR 32.72) lower by 33.73% YoY in 9M FY12, currently trading at FY12E P/E of 10.05x.