Karachi, Mitchell’s Fruit Farms Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on November 08, 2022.
The agenda of the meeting was discussion of profit and loss account for Year ended June 30, 2022 which portrayed a loss of Rs. 621,977,039 with loss per share 27.19 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from November 25, 2022 to December 02, 2022 (both days inclusive).
“Mitchell’s Fruit Farms Limited was incorporated in Pakistan. It is principally engaged in the manufacture and sale of various farm and confectionery products. The Company was incorporated in 1933 and given the name Indian Mildura Fruit Farms Ltd, a small-scale operation for the processing of citrus fruit into concentrated soft drinks (squashes) and preserves.
After independence, in1948, the company’s name was changed from Indian Mildura Fruit Farms to Mitchell’s Fruit Farms Ltd and the brand name “MITCHELL’S” became the exclusive property of the Pakistani company.
The total number of shares of the Company is 22,875,000. The Earnings per shares of the Company is (7.04) in 2020 which was (10.16) in 2019. The Company had a loss of Rs. 55,445,000 in 2020 which was 80,006,000 in 2019.”