Attock Refinery turns things around

KARACHI: Attock Refinery Limited reported a turnaround result, boosting its net profit to more than Rs1 billion during the six-month period ended December 31, 2015, according to a notice sent to the Pakistan Stock Exchange on Wednesday.

The company reported a net profit of Rs1.02 billion or Rs12.07 per share during the second half of 2015 compared to a loss of Rs542.6 million or Rs6.36 per share it reported during the corresponding period of 2014.

It was a good result, according to Zeeshan Afzal, Head of Research at Taurus Securities. The increase in earnings can be attributed to the improvement in their margins, he said. The stock, which traded at Rs207.69 per share the last day, decreased by Rs4.19 per share or 2% to settle at Rs203.5 per share at the close of market on Wednesday with 384,600 shares changing hands.

Published in The Express Tribune, February 11^th,  2016.

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