KARACHI: The ICI Pakistan Limited posted profit-after-tax of Rs1.7 billion for FY14, a growth of 47 per cent over the previous year.

Net sales income grew by 5pc primarily due to higher sales volume in the ‘Life Sciences’, ‘Soda Ash’ and ‘Chemicals’ businesses.

However, the company’s polyester business continued to face a difficult trading environment with margins remaining under pressure, says a release.

The coal-fired boilers and heaters at the soda ash and polyester plant positively impacted energy costs during the year.

To further improve the energy mix, a coal-fired steam turbine project is to be completed by the end of this fiscal year.

Moreover, the company is also in the process of setting up a Nutraceuticals plant in Karachi by July, 2015 to enhance its footprint in the pharma segment.

Published in Dawn, September 2nd , 2014