Financial results of Avanceon Limited for Quarter ended June 30, 2021

Karachi, Avanceon Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on August 30, 2021.

The agenda of the meeting was discussion of profit and loss account for quarter ended June 30, 2021 which portrayed a profit of Rs. 191,832 with earnings per share 0.75 and 0.74 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Avanceon Limited was incorporated in Pakistan on 26 March 2003, as a private limited company which was converted to a public company on 31 March 2008. The Company’s principally business is to trade in products of automation and control equipment and to provide related technical services.

In Pakistan they are operating from Lahore, Karachi and Islamabad in manufacturing and other segments which includes Oil and Gas, Power, Infrastructure, Transportation, as well as FMCG.

The Company is listed on Pakistan Stock Exchange Limited, and “AVN” is being used by the Stock Exchange for the shares of the Company.

The number of shares the company has introduced are 256,593,357. The Earnings per shares of the Company is 3.18 in 2020, which was 3.01 in 2019. The profit after taxation in 2020 has increased which is 673,839,000 compare to 653,870,000 in 2019.