KARACHI: The Allure Brewery Company Limited has capped a notably challenging financial year with a strong performance, as detailed in the Chairman’s annual review for the year ended June 30, 2024. Despite facing a complex array of social, economic, and political challenges, the company has reported significant progress and robust growth.

In the review presented recently, the Chairman praised the role of the Board of Directors in steering the company through the tumultuous period, emphasizing their commitment to guiding the management and fulfilling responsibilities to all shareholders. According to information available from the Pakistan Stock Exchange (PSX), the Board's proactive and strategic handling of issues has been instrumental in the company's success.

The year 2023-24 posed various difficulties from external pressures within the country. However, the management’s adept response to these challenges ensured continuous operational success. The company has also maintained well-defined governance practices which have been pivotal in reinforcing corporate responsibility and driving profitability.

In an effort to gauge and enhance corporate governance efficacy, the Board conducted an annual self-evaluation. This evaluation focused on identifying areas for improvement, particularly in risk management and oversight, which are crucial for sustaining growth in a volatile market.

The company has also strengthened its internal audit functions by outsourcing them to M/S BDO Ebrahim and Co., Chartered Accountants. This move ensures rigorous financial oversight, with quarterly reviews by the Audit and Risk Management Committee and adherence to strict internal control processes.

The Chairman’s review concluded with an expression of gratitude towards the company’s employees, stakeholders, and shareholders. Their contributions have been deemed essential for the past year's success and will be pivotal as the company looks forward to navigating the challenges of the upcoming financial year with greater confidence.