Karachi: Goodluck Industries Limited has released its un-audited condensed financial statements for the six-month period ended December 31, 2024, revealing a significant decrease in turnover. The company reported a turnover of PKR 825.57 million, down from PKR 1.20 billion in the same period last year. This decline is attributed to decreased rates of wheat purchases from the open market, which also led to a reduction in the cost of sales to PKR 807.60 million, compared to PKR 1.19 billion in the previous year.
The financial results, summarized for the period ending December 31, 2024, show a profit before taxation of PKR 5.33 million. After accounting for taxation amounting to PKR 3.57 million, the profit after taxation stands at PKR 1.75 million. This reflects a decrease compared to the after-tax profit of PKR 3.79 million reported in the previous year. The company’s earnings per share (EPS) have also decreased to PKR 5.85 from PKR 12.62 last year.
According to information available from the Pakistan Stock Exchange (PSX), Goodluck Industries is navigating a challenging and competitive business environment marked by inflationary pressures. Administrative expenses rose to PKR 13.13 million from PKR 10.98 million due to these inflationary trends. Despite these challenges, the company is implementing strategies to mitigate competition through operational efficiencies and enhanced customer relations management.
The Board of Directors has decided not to declare an interim dividend for the period under review. They expressed gratitude to all stakeholders for their continued support and acknowledged the dedication and hard work of the management and staff.
As of December 31, 2024, Goodluck Industries reported total assets of PKR 1.14 billion, up from PKR 1.09 billion as of June 30, 2024. The company's liabilities have increased to PKR 136.01 million from PKR 86.03 million over the same period. The Board remains optimistic about achieving a satisfactory financial performance for the year 2025, despite the current market challenges.