Karachi, Masood Textile Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 27, 2020.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2019 which portrayed a profit of Rs. 257,808 with earnings per share 3.64 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Masood Textile Mills is the only textile mill in Pakistan with latest computerized Barcode System that assures quality in every operation of production from spinning to packing. Products of each department carry bar coded stickers, which bear all the details and history of the operations of that product. Hence if any problem is reported, one can trace back the root of the problem and enable to prevent occurrence of the same in future.
Besides, MTM is one of the few fully vertical textile mills in Pakistan having in-house Yarn, Knitting, Fabric dyeing, Processing, Laundry and Apparel Manufacturing facilities. The vertically integrated operations help us in achieving shorter lead times and greater flexibility to cater to the customers demand.
The symbol “MSOT” is being used by the stock exchange for Masood Textile Mills.