Karachi, Cherat Packaging Limited, a leading name in the packaging industry, held its Board of Directors meeting on Monday, August 28, 2023, to discuss and recommend financial results for the fiscal year ending June 30, 2023.

In a major financial update, the company's Board of Directors has recommended a final cash dividend of Rs. 2.00 per share, totaling 20% of the share's value. This final cash dividend is in addition to the interim cash dividend of Re. 1.00 per share (10%) already paid out earlier this year. There will be no bonus shares issued this fiscal year, as they have already been issued at a rate of 5% as interim bonus shares.

Cherat Packaging Limited will not be offering any right shares for the year, and there are no other entitlements or corporate actions proposed. The company has also confirmed that there is no other price-sensitive information to disclose at this time.

Furthermore, Cherat Packaging Limited has released its Statement of Profit or Loss for the fiscal year ending June 30, 2023, which shows impressive financial performance:

Turnover reached Rs. 16,554,262,000, compared to Rs. 13,502,590,000 in the previous year.

Gross profit stood at Rs. 3,277,073,000, a significant increase from Rs. 2,314,729,000.

Operating profit showed robust growth, reaching Rs. 2,870,242,000, compared to Rs. 1,880,688,000 in the previous year.

Net profit for the fiscal year amounted to Rs. 908,250,000, up from Rs. 885,509,000.

The company's earnings per share for the year, both basic and diluted, were Rs. 18.50, compared to Rs. 18.04 in the previous fiscal year.

Cherat Packaging Limited's Annual General Meeting is scheduled to be held on Tuesday, October 24, 2023, at the Registered Office of the Company in Peshawar. The share transfer books of the Company will be closed from Tuesday, October 17, 2023, to Tuesday, October 24, 2023, inclusive.

These financial results and dividend recommendations reflect Cherat Packaging Limited's commitment to delivering value to its shareholders and its strong financial performance in the fiscal year 2023.