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Indus Motors records 100 percent growth

PAK SUZUKI CO: Pak Suzuki Co, the leading company with around 37 percent share in the local car manufacturers' market, showed a healthy sales growth in 2002.

Analyst expects that the company's 1Q2003 (Jan-Mar 2003) results would maintain the same great trend initiated in 2002.

In 1Q2003, Mehran and Cultus were the main products which achieved record sales. The company is expected to gain due to localisation of different parts of these vehicles (deletion rate of 40 percent to 70 percent) which will reduce its production cost.

In 1Q2003, analysts expect net sales of Rs 4.0 to Rs 4.2 billion. Other income will also be a significant factor that will improve its profit after tax.

“We expect Pak Suzuki upcoming quarterly profit after tax to be in the range of Rs 310 Rs 330 million (EPS Rs 6.3-6.7).” The company is to announce financial results on Monday.

“Due to increase in production caused by persistent demand, favourable exchange rate, earning from huge advances deposited by customers, and reduction in cost of production owing to increased deletion levels, we expect the auto sector to perform tremendously during 2003 also,” he said.

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