Undersupply of gas mars a splendid business performance by ICI Pakistan Limited

Karachi: The Board of Directors of ICI Pakistan Limited is pleased to announce the financial results for the year ended December 31, 2011.

The company posted net sales income of PKR 40.11 billion which is 14% higher than last year. However, operating results were dragged down by 23% almost entirely due to unavailability of gas to the Soda Ash and Polyester plants and the resultant incremental expenditure on expensive alternate fuel amounting to over PKR 825 million.

Profit after tax at PKR 1.93 billion is 20% less than last year and earnings per share at PKR 13.95 was 20% lower than last year.

The company’s Paints, Chemicals and Life Sciences Businesses recorded strong growth in margins and operating result.

Other Information A final dividend of PKR 5.5 per share has been declared by the Company subject to the approval of the shareholders in the AGM scheduled for April 27, 2012

For more information, contact:
Seemi Saad
Manager Corporate Communications and Public Affairs
ICI Pakistan Limited
Tel: +9221 3531 3821 – 24
Fax: +9221 3531 3832
Email: seemi.saad@akzonobel.com