Karachi: Secure Logistics Group Limited (SLG) has announced its full-year financial results for the period ending December 31, 2024, following an auditor review. The company revealed significant developments, including a planned merger with Trax Online, an e-commerce and last-mile logistics entity.
The merger, facilitated through a Scheme of Amalgamation, has received the necessary approvals from lenders and shareholders during an Extraordinary General Meeting held on March 28, 2025. The Islamabad High Court is expected to issue the final order on April 17, 2025. Upon completion, SLG intends to make a corporate announcement and hold an analyst presentation.
The merger with Trax Online aims to establish Pakistan's first 4PL logistics service provider, SLGL-Trax, offering comprehensive logistics solutions with in-house security and IoT/Asset Tracking services. SLGL will continue to be listed, comprising five corporate entities. The merger is expected to enhance shareholder value by transitioning SLGL from a traditional logistics entity into a technology-driven logistics provider. The combined entity will boast extensive geographical reach, covering over 1,600 cities and towns across Pakistan.
The merged entity will operate 110 offices, including corporate, regional, and area offices, marshalling yards, branch offices, and retail outlets. It plans to serve a client base of over 300 B2B and 9,000 B2C customers, with 10 warehouses offering a combined storage space of approximately 1.30 million square feet. By the end of 2025, SLGL-Trax also aims to have over 300 commercial vehicles for various delivery services.
Financially, Secure Logistics Group Limited exceeded its targets for the fiscal year 2024. Against a budgeted net revenue of PKR 2.358 billion and a net profit of PKR 573.335 million, the company reported a revenue of PKR 2.518 billion and a net profit of PKR 600.675 million. Consequently, the company achieved an adjusted earnings per share of PKR 2.43.
According to information available from the Pakistan Stock Exchange (PSX), these results reflect SLG's strategic direction and financial health. The designated market category for this information is financial results and corporate merger activity.
The merger with Trax Online positions Secure Logistics Group Limited to leverage synergies and expand its service offerings, potentially reshaping the logistics landscape in Pakistan.