Karachi, Berger Paints Pakistan Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held on September 28, 2022 through video link.
The agenda of the meeting was discussion of consolidated profit and loss account for Year ended June 30, 2022 which portrayed a profit of Rs. 195,677 with earnings per share 9.49 basic and diluted respectively.
Further, 40% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from October 20, 2022 to October 26, 2022 (both days inclusive).
“Berger Paints Pakistan Limited was incorporated in Pakistan on 25 March 1950 as a Private Limited Company and then subsequently became a public limited company in 1974, when 49.38% of its shares were acquired by Pakistani investors, while the remaining 50.62% were held by U.K. parent company, Jenson & Nicholson Limited. In 1991 Slot rapid Limited, a U.K. based company with diversified business interests, acquiring control of Berger Paints Pakistan Limited by gaining 50.62% shares of the company. In 2006, Berger established manufacturing facility in Lahore. The company has regional offices in Karachi, Lahore, Islamabad and Territorial Offices in Gujranwala, Multan, Faisalabad, Peshawar and Hyderabad.
The principle business activity of the Company is manufacturing and trading of paints, varnishes and other related items. The shares of the Company are quoted on Pakistan Stock Exchange and used the symbol “BERG” for the shares of the Company.
The number of shares the company has introduced are 20,459,710. The Earnings per shares has decreased in 2020 and is 3.63 whereas in 2019 it was 4.93. The profit after taxation in 2020 is 74,307,000 which was 100,825,000 in 2019.”