Pakistan Aluminium Beverage Cans Limited (PABC) saw its profits rise to Rs5.02 billion in 2023.

This is up from the Rs2.7billion it posted in 2022, a remarkable rise of 86% over the last year.

In a posting filed on the Pakistan Stock Exchange (PSX), PABC showed sales climbing from Rs14.15 billion in 2022 to Rs19.74 billion the following year.

This represents an increase of 39% over the reported period.

The company’s gross profit also rose to Rs7.65 billion from Rs4.73 billion – an increase of 62%.

PABC is the sole manufacturer of aluminium cans for soft drinks in Pakistan and Afghanistan and on Friday applied for a listing with the Pakistan Stock Exchange.

It supplies aluminium cans to both PepsiCo and Coca-Cola in the region.

PABC also announced in February that its annual production capacity now exceeds 950 million cans.