Karachi May 26 2023: Pakistan Aluminium Beverage Cans Limited, Coca-Cola can supplier, expected to generate 30 percent more in profits during 2023 despite economic slowdown and record high interest rates.
Share price of the company surged 68.56 percent in a period of one year on Pakistan Stock Exchange.
Company is targeting to increase can manufacturing capacity from 700 million to 1200 million cans per year. First phase commissioned in August 2022, enhancing capacity by 250 million cans per year and second phase planned for completion in 2023.
Management expects to generate revenue of PKR 18.0 billion (approx.) in 2023 with expected sales volume around 750M (approx.) cans. Company expects net profit of PKR3.5 billion in 2023.
It is possible that the actual results may deviate from the forecasted or expected results, says the management.
Despite facing economic challenges caused by the global and domestic geopolitical situation, in the year ended December 31, 2022, the net sales of the Company increased by PKR 6.92 billion, reaching PKR 14.15 billion, representing a 95.76 percent increase compared to the corresponding period last year. The sales growth is attributable to better volumes in local market and further expanding the international market.
Exports of the company increased to PKR 5.9 billion in 2022 compared to PKR 2.7 billion in the previous year.
This remarkable performance resulted in an Earnings per Share of PKR 7.48 for the year ended December 31, 2022. Moreover, the gross profit during the year under review was 33.41 percent, compared to 35.48 percent in the previous year. The profit after tax has also witnessed a remarkable increase of PKR 1,126 million, reaching PKR 2,703 million, representing a 71.42 percent increase compared to the previous year
About the Company
Pakistan Aluminium Beverage Cans Limited (PABC) is a pioneer in manufacturing beverage cans in Pakistan. PABC began its journey in December 2014 as the Country's first and only manufacturer and exporter of aluminum beverage cans. Its commercial production began in September 2017, with a production capacity of 700 million cans per year. PABC has increased its production capacity over time and achieved a yearly output of 950 million cans in August 2022. Currently, the company is pursuing further expansion that will raise its annual production capacity to 1200 million cans in 2023.
PABC operates from its modern production facility located at M-3 Industrial City, Faisalabad, and provides quality products and services to its customers in Pakistan, South Asia and Central Asia. At PABC, we believe in sustainable and ethical business practices, and our customers' satisfaction is at the forefront of our priorities.
As a company, PABC takes pride in contributing to the industrial diversity of the Country, creating domestic value, and reducing imports. We are proud of our journey, and we look forward to becoming the preferred choice for beverage can solutions.