Lotte Pakistan PTA

Lotte Pakistan PTA LTD is a Pakistan-based company engaged in the manufacture and sale of purified terephthalic acid, an essential raw material for Pakistan's textile, PET (bottle grade) resin, PET packaging industries, filament yarn, polyester chains and polyester staple fibre. The company made the single largest foreign direct investment (US$ 490 million) up to December, 2010 in Pakistan's petrochemical industry.
The company also helped in creating a large infrastructure network at the Port Qasim vicinity including a chemical jetty, manufacturing of industrial gases and a raw water pipeline through third party contacts.
Lotte Pakisatan PTA is registered at all the three (Islamabad, Karachi, Lahore) exchanges of Pakistan and the company's shares are traded under the stock code LOTPTA.
Year 2010
In the financial year 2010, the company achieved 35 million man-hours without lost time case and produced 483,433 tonnes in an overhaul year. The company's revenue and gross profit increased by 12% and 19% respectively. Lotte Pakistan PTA spent 35 million towards corporate social responsibility activity. The company made the highest ever profit before and after tax for any canlender year since start-up of operations. Despite lower import tariff on PTA during second half 2010 (3.0% compared to 7.5% in second half 2009), revenue of the company was 12% higher than 2009 because of higher average PTA price per tonne. The company paid PKR 2,081 during the year to the national exchequer.
Year 2011
The company informed Karachi Stock Exchange (KSE) on 17 August, 2011 that Board of directors would meet on 24 August, 2011 to consider the un-audited statements of the company for the second quarter ended on 30 June, 2011. and on 25 August, 2011 an un-audited report was sent to KSE showing second quarter earning per share-basic and diluted of PRK 0.80 as compared to PKR 0.83 in second quarter 2010 and earned profit before taxation of PKR 1,686 million as on 30 June, 2011 in comparison to PKR 1,805 million in second quarter ended on 30 June, 2010.
Reference
External link
*Lotte Pakistan PTA
*Karachi Stock Exchange

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