Karachi, Waves Singer Pakistan Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on August 24, 2021.
The agenda of the meeting was discussion of consolidated and unconsolidated profit and loss account for quarter ended June 30, 2021 which portrayed a profit of Rs. 214,875 and 106,297 with earnings per share 1.00 and 0.49 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Waves Singer Pakistan Limited has become a merged company with the acquisition of Cool Industries (Pvt) Limited by Singer Pakistan during 2017. After the approval of the Scheme of Merger by Sindh High Court, the combined company has acquired the name of Waves Singer Pakistan Limited. The Company is principally engaged in retailing and trading of domestic consumer appliances and other light engineering products, besides manufacturing and assembling of the same.
The Company produces a variety of consumer appliances-including refrigerators, air conditioners, LED TVs, washing machines, microwave ovens, in addition to its more traditional offerings of sewing machines, water heaters and gas ovens etc.
The total number of shares the company has introduced so far are 45,410,000. The Earnings per shares of the Company was (3.50) in 2017 which was 2.10 in 2016. Their Profit after Tax was 327,508,000 in 2017 which was 95,377,000 in 2016.