KARACHI: Interloop Limited, a textile giant, on Thursday reported an 18 per cent decrease in its full-year net profit, owing to an increase in cost of sales.
In a statement to the Pakistan Stock Exchange (PSX), the company reported a net profit of Rs16.455 billion for the year ended June 30, down from Rs20.171 billion the previous year.The company also announced a final cash dividend of Rs2.5 a share, which is in addition to the interim cash dividend at Rs2 per share already paid.
Earnings per share came in at Rs11.78, compared with Rs14.39 last year.The company said its sales for the year increased to Rs158.182 billion, compared with Rs119.2 billion a year earlier. However, the cost of sales increased to Rs114.02 billion from Rs79.33 billion, which lowered the profit margins.According to analysts, Interloop’s earnings were lower than the market expectations.
A view of the exhibition ‘Made in Pakistan’ organised by the Ministry of Commerce, Government of Pakistan, Trade...
The image shows a tobacco company worker holding cigarettes. — AFP/FileLAHORE: Philip Morris Pakistan has announced...
The Shan Foods factory seen in this image.— Shan Foods website/fileKARACHI: Shan Foods appoints Tahir Malik as its...
President Muhammad Kamran Arbi is presenting the Association’s crest to former Minister of Industries Younus Dagha...
A goldsmith arranges ornaments on a manikin in his shop. — AFP/FileKARACHI: Gold prices rose by Rs1,500 per tola on...
China's President Xi Jinping and Ghana President Nana Akufo-Addo review the Chinese People's Liberation Army honour...