than the same period last year. This is primarily due to lower negative performance of the Polyester Business, and a 27% and 21% increase in the Soda Ash and Life Sciences Businesses respectively.
The Polyester Business’s performance improved following a substantial reduction in energy costs, the commissioning of coal fired heaters, and reduction in furnace oil and coal prices.
The Soda Ash Business benefited due to the operation of coal fired boilers at Khewra. The Business achieved a significant milestone of 1,000 tons per day production rate during Quarter three of 2014-15. Performance has been driven by higher volumes, prices and enhanced operational efficiencies.
Within the Life Sciences Business, Pharmaceuticals and Animal Health Divisions both posted double digit growth in NSI (net sales income). ICI Pakistan looks forward to robust annual results in the Chemicals Business. In the coming months, most of the Business’s service segments will be at their peak seasonal demand.
During the nine months ended March 31, 2015, the Company completed a 30% equity participation in NutriCo Pakistan Pvt. Ltd., income from which has been recognised as ‘Share of Profit from Associate’.
The Company is committed to maintaining an upward trajectory of growth, a testament of which is the construction of an Animal Health Leased Manufacturing Facility, scheduled to start production in July 2015, and a Nutraceuticals Manufacturing Facility, which is set for commissioning in the same quarter.
Earnings per share for the nine months at PKR 18.23 is 33% higher than the SPLY.
Net sales income for the nine months at PKR 28,016 million is 1% less than the SPLY.
The Profit after Tax (PAT) for the nine months is 33% higher than the SPLY.
Operating result is 42% higher than the SPLY.