Karachi, Sept 1: Sales of Indus Motor Company (IMC), makers of Toyota and Daihatsu vehicles, have increased to 50,557 units for the year ended June 30, 2007 as compared with 42,406 units in the corresponding period of last fiscal, up by 19 per cent, says a press release.

Production went up by 15 per cent to 47,821 units from 41,552 units last year. The company’s sales revenue increased by 11 per cent to Rs39 billion from Rs35 billion last year with the after-tax profit of Rs2.7 billion, as compared to Rs2.6 billion achieved during the year ended June 30, 2006.

Earnings per share went up to Rs34.93 as compared with Rs.33.70 in the previous year.

The board of directors of IMC, which met on August 31 to review the company’s financial and operating performance for the year ended June 30, 2007, declared a final cash dividend of Rs8 per share, making a total of Rs13 per share during the year.

The total dividend paid for the same period last year was Rs12 per share.Giving an overview of the entire local industry, IMC said that total sales for locally assembled passenger cars and light commercial vehicles during 2006-07 grew by nine per cent to 204,212 units compared with 187,436 units in 2005-06.

Production was recorded at 196,405 units for the period ended June 30, 2007, showing an increase of four per cent over 189,138 units last year.

Although there has been a decrease in the import of used cars from 46,425 units in 2005-06 to 28,493 units in 2006-07, these imports are still 14 per cent of the domestic passenger car and LCV production and continue to impede growth of the local auto industry.