Karachi: At the 34th Annual General Meeting held recently, Al-Khair Gadoon Limited presented its audited financial results for the fiscal year ending June 30, 2024, showcasing substantial growth in sales and profits amidst challenging economic conditions.

The Chairman of Al-Khair Gadoon Limited emphasized the company’s robust governance framework, compliance with regulatory standards, and effective board performance as pivotal factors in navigating the fiscal year. According to information available from the Pakistan Stock Exchange (PSX), the company has adhered to the stringent requirements of the Companies Act, 2017, and various corporate governance codes, ensuring a transparent and accountable management system.

The fiscal year saw Al-Khair achieving a 20% increase in sales and a remarkable 60% rise in profit before taxation. This financial uplift comes despite the adverse effects of political instability, inflation, and currency fluctuations impacting the consumer goods sector, particularly foam products which are largely dependent on imported raw materials.

The Chairman also highlighted the economic challenges facing Pakistan, such as the volatile growth patterns and structural issues with state-owned enterprises and the energy sector. However, the company remains optimistic about its future outlook. It aims to leverage government efforts geared towards sustainable economic growth by enhancing operational efficiency and increasing investment.

Moreover, Al-Khair Gadoon Limited continues to commit to corporate social responsibility, contributing significantly to the national exchequer through taxes and fostering safe working conditions for its employees. The company’s engagement in social activities further demonstrates its dedication to societal welfare.