Karachi: Abbott Laboratories (Pakistan) Limited has disclosed its financial results for the year ending December 31, 2024, showing a noteworthy increase in total equity and liabilities, according to a statement released on February 24, 2025. The Board of Directors approved these results during their meeting on February 20, 2025.

According to the latest financial disclosures, the company's total equity increased from 18.24 billion to 23.72 billion rupees, primarily due to a rise in revenue reserves, which grew from 15.82 billion to 20.99 billion rupees. The authorized capital remained unchanged at 2.00 billion rupees, while the issued, subscribed, and paid-up capital also remained stable at 979.00 million rupees.

Non-current liabilities saw an increase, rising from 1.62 billion to 2.27 billion rupees. This change was driven by an increase in deferred taxation, which more than doubled, reaching 1.05 billion rupees from 519.57 million rupees the previous year. Staff retirement benefits also saw an increase, totaling 1.18 billion rupees compared to 1.05 billion rupees in 2023.

In the area of assets, non-current assets experienced growth, moving from 13.49 billion to 14.39 billion rupees. Property, plant, and equipment contributed significantly to this rise, with their value increasing from 13.38 billion to 14.25 billion rupees. However, intangible assets saw a decline from 12.68 million to 1.25 million rupees. Current assets remained relatively stable, recorded at 23.26 billion rupees, slightly up from 23.20 billion rupees in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), Abbott Laboratories (Pakistan) also reported cash flow activities for the year. The company generated 8.36 billion rupees from operations, a significant increase from 3.18 billion rupees in the prior year. After accounting for tax payments and other deductions, net cash generated from operating activities was 4.67 billion rupees, compared to a net cash usage of 62.30 million rupees in 2023.

Investing activities resulted in a net cash outflow of 2.37 billion rupees, slightly lower than the 2.20 billion rupees outflow in 2023. Additions to property, plant, and equipment were the main driver of this outflow. Financing activities also saw a net reduction in cash, with a total outflow of 1.16 billion rupees, down from 1.49 billion rupees the previous year. The company paid dividends amounting to 1.03 billion rupees.

The net increase in cash and cash equivalents at the end of the year was 1.15 billion rupees, bringing the total cash and cash equivalents to 6.18 billion rupees as of December 31, 2024, up from 5.04 billion rupees at the start of the year.