Siemens Pakistan during its financial year ended on September 30, 2005, received new orders of just under Rs 18 billion, showing an increase of 54 percent over last year.
The annual report of the company issued on Tuesday showed that the sales increased by 85 percent, as compared to just over Rs 13 billion of previous year. Power transmission and distribution and communications division contributed to the increase.
The commission income of the company went up substantially, by about 170 percent as compared to previous year mainly due to commission orders received and executed in the communications and power transmission and distribution divisions.
The company booked profit before tax that increased by 62 percent compared with last year showing an all time high value of Rs 1.2 billion. The major contributors were higher sales volume and higher commission income.
As a result, profit after tax increased by 89 percent as compared to last year. The report said that the increase was in line with increase in profit before tax. Tax expenses for the year had decreased due to lower incidence of tax on projects executed outside Pakistan.
The overall business activity of the company ended in capital investments of Rs 243 billion (2004: Rs 189 million) mainly for replacement and modernisation, and included ERP software 'Spiridon' which has been developed especially for Siemens Companies world-wide. Siemens contributed to the exchequer, in the form of duties and taxes, Rs 1226 million during the year.
The Managing Director and Chief Executive Officer of the Company, Sohail Wajahat H Siddiqui, said that during the fiscal year the economy of Pakistan continued to perform strongly and presented a steady progress towards stability with all macro-economic indicators showing positive trend.
The new major orders that Siemens has received include high voltage grid stations to be constructed in Dubai, which Siemens received against international competition after establishing its competency in the field of power transmission and distribution.
Siemens MD said that some other orders were in telecommunication sector "where we are proudly serving three mobile operators at one time ie, Mobilink, Ufone and Telenor". In the area of industrial solutions and power generation, Siemens received orders for building power and desalination plant at DHA site and for electrification work at Punjab Industrial Estate.
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