Lahore: Mitchell's Fruit Farms Limited announced its annual audited financial results for the fiscal year ending June 30, 2026, during a board meeting held on October 1, 2026. The meeting took place at the company's registered head office in Lahore and was attended both in-person and via video link.
The company reported a revenue of approximately 2.97 billion rupees for the year, up from 2.66 billion rupees in the previous year, marking a big move with an 11.43% increase. Despite the rise in revenue, Mitchell's Fruit Farms faced challenges in terms of profitability. The cost of sales increased to 2.14 billion rupees from 1.89 billion rupees, impacting the gross profit, which stood at 827.07 million rupees compared to 770.19 million rupees the previous year.
The company's operating loss was reported at 13.49 million rupees, a stark contrast to the operating profit of 180.29 million rupees recorded in the previous fiscal year. This shift was attributed to a significant rise in administrative expenses and selling and distribution expenses, which increased to 277.79 million rupees and 562.77 million rupees, respectively.
According to information available from the Pakistan Stock Exchange (PSX), Mitchell's Fruit Farms managed to achieve a net profit of 3.34 million rupees for the year, compared to 1.67 million rupees in the prior year, representing a very large or significant move with a 99.67% increase. The company's earnings per share also rose to 0.14 rupees, up from 0.07 rupees.
In terms of its financial position, Mitchell's total assets increased to 2.51 billion rupees from 1.99 billion rupees. The company's equity improved significantly, reaching 1.10 billion rupees, up from 580.82 million rupees. This increase was driven by a rise in reserves, which climbed to 846.64 million rupees from 352.07 million rupees.
Despite these improvements, the company faced challenges with its liabilities. Non-current liabilities decreased slightly to 185.40 million rupees, while current liabilities remained relatively stable at 1.22 billion rupees.
The board of directors expressed their commitment to addressing the challenges faced by the company, focusing on strategies to improve operational efficiency and financial performance in the coming year.