Karachi: Ecopack Limited has reported significant improvements in both its production capacity utilization and financial performance for the fiscal year 2024, as disclosed during its Corporate Briefing Session for 2023-24. The company, which specializes in manufacturing bottles and preforms, highlighted growth across several key segments in its latest report.

According to the data provided, the company's bottle production capacity utilization increased from 57% in 2023 to 67% in 2024, with actual production rising from 187 million units to 219 million units. Similarly, preforms production saw a capacity utilization increase from 59% in 2023 to 65% in 2024, with production volumes moving up from 432 million units to 445 million units, despite a decrease in capacity from 729 million units to 685 million units.

Ecopack's financial statements revealed a robust performance for the fiscal year ending in 2024. The company's sales surged to 6,212 million rupees, up from 5,689 million rupees in 2023. This increase in sales was accompanied by a rise in gross profit, which stood at 775 million rupees compared to 580 million rupees the previous year. Operating profit also climbed to 465 million rupees from 305 million rupees in 2023.

The company's equity expanded to 1,297 million rupees in 2024, up from 1,175 million rupees in 2023, while reserves increased to 814 million rupees from 693 million rupees. Despite a slight decrease in total assets from 2,976 million rupees in 2023 to 2,962 million rupees in 2024, Ecopack's financial health remained robust.

According to information available from the Pakistan Stock Exchange (PSX), Ecopack reported a profit before tax of 223 million rupees for 2024, a notable increase from 81 million rupees in 2023. The profit after tax also rose significantly to 129 million rupees from 40 million rupees the previous year. This growth was reflected in the company's earnings per share, which increased to 2.67 rupees in 2024 from 0.83 rupees in 2023.

In terms of shareholder returns, Ecopack declared a 15% cash dividend for the fiscal year 2024, marking a significant turnaround from the previous years, where no cash dividend was announced. This move underscores the company's improved profitability and commitment to delivering value to its shareholders.