Karachi: Ghani Global Holdings Limited has announced that its Board of Directors has decided not to distribute cash dividends, bonus shares, right shares, or any other entitlements for the fiscal year ended June 30, 2024. This decision was confirmed during a board meeting held on September 27, 2024, in Lahore.
According to information available from the Pakistan Stock Exchange (PSX), the company released its unconsolidated and consolidated financial statements which highlight a gross profit increase despite static corporate actions. The consolidated financials reveal a net sales total of Rs. 7,919.04 million after sales tax and trade discounts, up from Rs. 6,323.77 million the previous year. The firm achieved a gross profit of Rs. 2,175.77 million compared to Rs. 2,023.71 million in 2023.
Costs relating to distribution and administration have been reduced year-over-year, with distribution costs down to Rs. 168.02 million from Rs. 227.76 million and administrative expenses cut to Rs. 355.49 million from Rs. 327.55 million. The profit from operations saw a significant rise, reaching Rs. 2,032.32 million, up from Rs. 1,605.38 million in 2023.
The financial statements also show an after-tax profit of Rs. 935.12 million for the year, increasing from Rs. 626.00 million in the previous year. This is attributed to both equity holders of the holding company and non-controlling interests, with earnings per share rising to Rs. 1.48 from Rs. 1.03.
Furthermore, the unconsolidated statement of profit or loss outlines a net sales figure of Rs. 170.80 million and a gross profit of Rs. 13.36 million. The company managed to significantly increase its other income, reporting Rs. 41.33 million compared to Rs. 10.11 million last year, leading to a profit after taxation of Rs. 24.33 million.
The Annual General Meeting of Ghani Global Holdings Limited is scheduled for October 26, 2024, at the company's registered office, and the Share Transfer Books will be closed from October 19 to October 26, 2024. The annual report will be transmitted through PUCARS at least 21 days prior to the AGM.