Access Engineering reports 37% growth in profit in 2012-13 year
View(s):Access Engineering says it recorded an ‘impressive’ profit attributable to equity holders of Rs. 2.4 billion for the financial year ending March 31, 2013, compared to a profit of Rs. 1.7 billion last year.
Turnover for the year was nearly Rs. 14 billion and Rs. 11.4 billion at group and company level.
“This is the second consecutive year that the company was able to almost double its turnover in view of the growth taking place in infrastructure development and the construction industry in the country,” the Access statement said.
At group level, the company’s subsidiary Sathosa Motors contributed Rs. 2.3 billion to the top line. The company’s fully owned subsidiary, Access Realties (Pvt) Ltd also contributed to the top line with a turnover of Rs.170 million.
Access Engineering has increased its ownership in its subsidiary Sathosa Motors PLC to 84.4 per cent during the period under review.
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