Karachi: Safe Mix Concrete Limited, a major player in Pakistan's ready-mix concrete industry, declared a PKR 2 per share cash dividend at its recently held Annual General Meeting in Karachi. The company's performance in the fiscal year ending June 30, 2024, was marked by resilience amid economic fluctuations.

During the fiscal year, the company reported a net revenue of PKR 1,262.48 million, a slight decrease from the previous year's PKR 1,432.03 million. Despite the revenue dip, Safe Mix managed a gross profit of PKR 260.07 million, thanks to controlled cost of sales which totaled PKR 1,002.41 million, improved from last year's PKR 1,110.76 million.

According to information available from the Pakistan Stock Exchange (PSX), the company's operational proficiency was evident as it achieved a profit after taxation of PKR 111.61 million, compared to PKR 133.37 million in the prior year. The earnings per share stood at PKR 4.46, slightly down from PKR 5.33 the previous year.

Administrative expenses were managed efficiently at PKR 51.53 million, alongside a finance cost which saw a rise to PKR 52.23 million. The company also reported other income of PKR 8.72 million during the period.

Reflecting on the financial results, the company emphasized its commitment to enhancing shareholder value and maintaining robust compliance with corporate governance norms. Safe Mix Concrete Limited continues to focus on strategic growth initiatives and operational efficiency to navigate the challenging economic environment.