- The company achieved record H2O2 production to keep up with growing demand
LAHORE, Pakistan: Descon Oxychem Limited (PSX: DOL), the leading manufacturer and exporter of hydrogen-peroxide (H2O2) and allied products, witnessed a 23.57% increase in production as per the company’s financial-year 2022 (FY22) results.
The company has delivered exceptional business performance despite challenges posed by increase in energy costs and global supply chain disruption.
Due to the improved production, increased exports and surge in H2O2 prices in the domestic and international market, DOL witnessed a 52% year-on-year (YoY) increase in revenue (PKR 4.2 Bn) and profit after tax of PKR 471 Mn, a 69% YoY growth. To keep up with growing H2O2 demand, the company achieved record production of 40,550 MeT.
“We are very pleased with our yearly results which proved to be one the strongest in the company’s history. Our outlook continues to look promising for the coming months with increased margins, and positive cash flows. We implemented an effective strategy to mitigate the adverse geo-political/Economic impacts through improved price-management, better product-placement, enhanced exports and timely expansion. This performance showcases that the company’s resolve to continuee to strengthen its position as a regional market-leader,” said Chief Executive Officer of DOL, Mohsin Zia.
DOL was established in the year 2004 and over the decades it has achieved sustainable growth. Going forward the company plan to penetrate into into new segments enhancing margins and hedging against slow demand in future. In addition to this the company also plans to strengthen its presence into export market therefore creating value for the shareholders and earning precious foreign exchange for the Country.