Karachi: Fecto Cement Limited has released its financial results for the fiscal year ended June 30, 2024, announcing no final cash dividend, bonus shares, or right shares, reflecting a cautious stance amid the economic conditions.

On October 7, 2024, the Board of Directors of Fecto Cement convened to discuss the year-end financials at their registered office in Karachi. The directors recommended no disbursements this year in terms of dividends or shares. According to information available from the Pakistan Stock Exchange (PSX), the company's annual general meeting is scheduled for October 28, 2024, at The Royal Rodale Sports and Recreational Complex in Karachi, where shareholders are expected to approve the board’s recommendations.

The company's financial performance saw significant improvement over the past fiscal year. Net sales revenue was reported at 10.91 billion rupees, a substantial increase from the 8.68 billion rupees recorded in the previous year. Despite higher sales, the net profit after taxation stood at 317.32 million rupees, compared to 133.25 million rupees the year before, marking an improvement in profitability.

Fecto Cement's shares transfer books will remain closed from October 19, 2024, to October 28, 2024, for the purpose of the upcoming annual general meeting. The annual report of the company will be disseminated to shareholders through PUCARS at least 21 days prior to the meeting.