Karachi, First Treet Manufacturing Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 26, 2020.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2019 which portrayed a loss of Rs. 1,099,772 with loss per share 5.57 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Treet Corporation was setup in 1952 and is almost as old as the country itself. Companies within Group are Semi-Autonomous units responsible for their own budgeting, new products launch, market decisions and new venture exploration and pricing. Operating as strategic business units, they are treated as internal profit centers by the corporate headquarter i.e. Treet Corporation limited, the holding company. These business units develop their business strategies though independently from other businesses but are trained to remain in-tune with broader corporate business policies. Corporate strategy (by the Parent Company) seeks to develop synergies across business units by sharing and coordinating staff, making investments in these units and using them to complement other corporate business activities.
The symbol “FTMM” is being used by the stock exchange for the First Treet Manufacturing Modaraba.