Abans Electricals posts Rs 155 mn PAT for FY 2012-13

Abans Electricals PLC recorded an Rs 155 million profit after tax for the financial year 2012/2013, which is a 78% increase over the previous year. The revenue increased by 13.6% and gross profit by 29% compared to the previous year. The GP ratio increased from 15.5% to 18%. Earnings per share (EPS) increased by 127%, that's double the value as compared to last year, while the net assets per share in the company increased from Rs100.96 to 135.45.

Commenting on the increased revenue and profit of the company, a spokes person for Abans Electricals PLC said that the introduction of a new production line for the manufacture of washing machines at the beginning of the fourth quarter had attributed towards the boost in revenue and profits, while systematic cost cutting and efficient and controlled financial management had also contributed to the increase.

Abans Electricals PLC was incorporated in 1981, and is engaged in manufacturing & assembling, household electric & electronic appliances & providing repairs & maintenance services. The company was broad based into a public quoted company in 1984.

Abans Electricals PLC has a factory in Ratmalana for assembly and manufacture of electrical appliances in collaboration with Electrolux of Sweden, LG Electronics of Korea and other brands. The company has been manufacturing cookers, ovens, electric water heaters and furniture. Since recently, the company has ventured into manufacturing washing machines, assembling air conditioners and installation of solar power systems with Net Metering.