Sales at Pakistan Aluminum Beverage Cans (PABC) rose by almost three-quarters in the first six months of 2023 as new capacity came online and exports increased.

The results extend a purple patch for Pakistan’s sole maker of two-piece aluminum drink cans after revenue increased by a third last year. More growth is expected in the remainder of the year as the carmaker adds yet more capacity.

PABC said sales for the six months to the end of June were PKR11.12 billion (US$36.3 million), up 71% year-on-year. Pre-tax profit climbed 74% to PKR2.90bn. Second-quarter sales jumped 53% to PKR5.94bn.

Chair Simon Jennings said exports drove the company’s strong performance.

“Our export sales have continued growing strongly to Afghanistan, Central Asia, and Bangladesh as market demand for cans has grown,” Jennings told The Canmaker. “Our markets are focused on slim cans as there is a preference for smaller sizes.”  

PABC, which is owned by Ashmore Investment Management and Liberty Group, has been increasing capacity at its Faisalabad plant. Last year it expanded the facility to produce 950 million cans per year, and Jennings said the company is on track to extend that to 1.2 billion this quarter.

“This enhanced capacity will empower the company to achieve operational and cost efficiencies, better meeting the demand for aluminum beverage cans,” PABC said in a statement.

PABC said it had managed to achieve growth despite “struggling with formidable economic challenges resulting from currency devaluation, elevated inflation, and interest rates”. That has dented domestic demand, where sales volumes declined.

“Demand in Pakistan softened in the second quarter due to Ramadan fillings having occurred mainly in the first quarter and the impact of the economic situation,” Jennings said. 

Earlier this year, Jennings told The Canmaker that a second decorator was being installed as part of PABC’s expansion plans.

The carmaker exports to countries in south and central Asia, and provides cans to fillers including Coca-Cola, PepsiCo, and local brand Pakola.

“Demand in Pakistan softened in the second quarter due to Ramadan fillings having occurred mainly in the first quarter and the impact of the economic situation,” Jennings said. 

Earlier this year, Jennings told The Canmaker that a second decorator was being installed as part of PABC’s expansion plans.

The carmaker exports to countries in south and central Asia, and provides cans to fillers including Coca-Cola, PepsiCo, and local brand Pakola.