Karachi: Matco Foods Limited has released its financial results for the year ending December 31, 2024, revealing a year of mixed financial activities. The company, known for its food processing operations, disclosed its cash flow and equity performance, providing insights into its financial health.

According to the company's financial statement, the cash flows from financing activities for the period showed a significant shift. The net cash generated from financing activities was recorded at 2.36 billion rupees, compared to 2.58 billion rupees in the previous year. This change was primarily influenced by the payments of lease liabilities amounting to 183.06 million rupees and dividends paid totaling 26.98 million rupees. Additionally, short-term borrowings netted at 2.60 billion rupees for the year 2024, compared to 2.79 billion rupees in 2023.

The company's net change in cash and cash equivalents during the period was a decrease of 212.79 million rupees. The effects of exchange rate changes on cash and cash equivalents were noted as a reduction of 2.05 million rupees, bringing the cash and cash equivalents to 362.45 million rupees at the end of the period. This was a decrease from the beginning balance of 506.68 million rupees as of January 1, 2024.

Equity attributable to the shareholders of the holding company saw an increase, with the balance as of December 31, 2024, at 10.31 billion rupees, compared to 10.07 billion rupees at the beginning of the year. The issued, subscribed, and paid-up share capital remained steady at 1.22 billion rupees. The total comprehensive income for the period was 237.10 million rupees, driven by a profit of 236.75 million rupees and other comprehensive income of 0.90 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), Matco Foods Limited's financials reflect its strategic financial maneuvers over the year. The company transferred 85.05 million rupees from the surplus on revaluation of fixed assets on account of incremental depreciation, net of tax. This was complemented by a transfer from the surplus on revaluation of property, plant, and equipment on account of disposal, net of tax, amounting to 0.62 million rupees.

In transactions with owners, the company recorded a dividend payment during the period of 61.20 million rupees. As of the end of the reporting period, Matco Foods Limited's total equity was recorded at 10.31 billion rupees, a reflection of its ongoing efforts to maintain financial stability and growth in its designated market category.