Karachi, Biafo Industries Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Islamabad on April 25, 2019.
The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2019 which portrayed a profit of Rs. 99,333,926 with earnings per share 3.76 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 May 17, 2019 to May 24, 2019 (both days inclusive).
Biafo Industries Limited having its registered office at 1st Floor, Biafo House, Plot No. 23, St No. 38-40, I&T Centre, G-10/4, Islamabad, Pakistan would like to take this opportunity to introduce their product-Tovex Water Gel Explosive manufactured at their plant located at Hattar Industrial Estate, Khyber Pakhtunkhwa, Pakistan.
Tovex has been an important breakthrough in explosives since the invention of dynamite by Alfred Nobel more than a century ago. Dynamite has served the industry well but hazards associated with the use, manufacture, transportation, storage and toxic nature has been the cause of serious concern. After intensive studies and research, in 1974 Du Pont, the largest manufacturer of Nitro Glycerin based dynamite in the United States of America introduced Tovex Water Gel, and in 1976 they decided to withdraw from the dynamite business in favour of Tovex.
Tovex Water Gel is substantially and demonstratively safer and is designed to perform equal to, if not better than dynamite in all sectors of the industry i.e. construction, mining, quarrying, seismic, tunneling etc.
The symbol “BIFO” is being used by the stock exchanges for the shares of Biafo Industries Limited
