Karachi: Ecopack Limited has announced substantial financial outcomes for the fiscal year ended June 30, 2024, alongside the declaration of dividends and bonus shares to its shareholders.

The company's board, in a meeting held on September 27, 2024, at the Ishaat Habibullah Room, Karachi, approved a final cash dividend of 15% per share for the fiscal year. Additionally, a proposal for issuing bonus shares was recommended, although specific details were not disclosed. According to information available from the Pakistan Stock Exchange (PSX), the board also advised on the issue of rights shares at par or at a premium/discount, details of which will be finalized later.

Financially, Ecopack Limited has shown a robust year, with a net profit after taxes amounting to Rs. 128.94 million, a significant increase from Rs. 40.14 million in the previous year. This growth is reflected in the earnings per share, which soared to Rs. 2.67 from Rs. 0.83. The gross profit for the year was reported at Rs. 775.26 million, up from Rs. 579.61 million, marking a solid performance amidst challenging market conditions.

The board also set the annual general meeting for October 28, 2024, to be held at the Industrial Estate Hattar, Khyber Pakhtunkhwa. Furthermore, the share transfer books of the company will be closed from October 15, 2024, to October 28, 2024, to facilitate the entitlement of the dividend and bonus shares to the shareholders.