Karachi: Century Paper and Board Mills Limited has announced a virtual Corporate Briefing Session scheduled for November 13, 2024, to discuss the company's financial performance for the fiscal year 2024. This session will be conducted via Zoom, and stakeholders, including IRE Certificate Holders, have been informed of the details.

The company has disclosed its distribution to shareholders over the years, revealing a notable increase in stock dividends. In 2023, Century Paper and Board Mills Limited distributed 1,785.39 million in stock dividends, a significant rise from previous years, with no cash dividends declared in 2023. This issuance of 1,785,390 bonus shares represents an 80% increase, bringing the paid-up capital to Rs 4,017 million.

According to information available from the Pakistan Stock Exchange (PSX), the company's financial results for the first quarter of the fiscal year 2024-25 show net sales of Rs 10,130 million. Gross profit for this period was Rs 1,030 million, accounting for 10% of sales. Operating profit was reported at Rs 760 million, or 7% of sales, while profit before tax stood at Rs 247 million, equating to 2% of sales.

The results indicate a growth in sales and profitability compared to the fourth quarter of the previous fiscal year, 2023-24, which had net sales of Rs 9,130 million, a gross profit of Rs 780 million (9% of sales), an operating profit of Rs 540 million (6% of sales), and a profit before tax of Rs 0.8 million.