Karachi, Habib Rice Products Limited is celebrating a successful financial year as the company’s Board of Directors approved their Audited Financial Statements for the year ended June 30, 2023. The results showcase remarkable growth compared to the previous year.

With a significant surge in turnover and substantial profit margins, Habib Rice Products Limited is set to reward its shareholders with a substantial cash dividend. The Board of Directors has recommended a Final Cash Dividend of 30%, equivalent to Rs. 1.50 per share, in addition to the 40% Interim Cash Dividend already declared and paid to members.

This substantial dividend will be distributed to stockholders whose names appear in the books on October 17, 2023, subject to approval by the stockholders in the upcoming Annual General Meeting. The 43rd Annual General Meeting of the Stockholders is scheduled for Thursday, October 26, 2023, in Karachi, where members whose names appear in the Register of Members on October 17, 2023, will be entitled to attend.

In addition to the dividend announcement, the company also revealed its impressive financial results for the year ended June 30, 2023, which are as follows:

Turnover – Net: Rs. 2,534,015,830 (2022: Rs. 1,919,657,376)

Gross Profit: Rs. 626,112,714 (2022: Rs. 442,923,980)

Profit Before Taxation: Rs. 370,047,571 (2022: Rs. 121,851,415)

Profit After Taxation: Rs. 333,063,894 (2022: Rs. 84,084,348)

These impressive financial results demonstrate the company’s commitment to growth and profitability in a challenging economic environment.

To facilitate the dividend distribution and Annual General Meeting, the Share Transfer Books of the company will remain closed from October 18, 2023, to October 26, 2023, inclusive.

Habib Rice Products Limited continues to be a key player in the rice products industry, and these financial achievements underscore its position as a reliable and rewarding investment for its shareholders.