Financial results of Avanceon Limited for Year ended June 30, 2020

Karachi, Avanceon Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on September 15, 2020.

 

The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2020 which portrayed a profit of Rs. 66,054 with earnings per share 0.31 basic and diluted respectively.

 

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Avanceon Limited incorporated in Pakistan in 1984. It provides engineering services in electrical, controls, machine design, information technology, and manufacturing business strategy. The services of the company in engineering services, software solutions, energy optimization, and support services enables its clients with the opportunity to achieve powerful business results and financial returns for its customers. The corporate headquarters of the company is located at Exton, PA USA, with company operational facilities in South Asia and Dubai, UAE. The registered head office of the company in Pakistan is located in Lahore. The company currently employees over 300 personnel and provides services, solutions and products to Food and Beverage, Pharmaceutical, Water, Chemicals, Printing, Oil & Gas and other industries. It is a member of Control Engineering Magazine’s System Integrator Hall of Fame and a leading technology partner for many global manufacturing companies.

The engineering services offered by the company includes consulting and design of plant floor operations, manufacturing execution system software integration, custom software development for manufacturing, manufacturing maintenance support and turnkey outsourcing for integration automation solutions. The products of the company include IntraVUETM network visualization and monitoring software, ABACASTM Project Execution Methodology, ABACASTM HMI Design Methodology, ABACASTM PLC Design Methodology, AutoGenTM Automation Synchronization Toolkit, ScanHACCPTM Food Safety Quality Assurance System and DataSourceTM Print Manager.

The symbol “AVN” is being used by the stock exchange for the shares of Avanceon Limited