Karachi, Pakistan Cables Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi 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. 64,377 with earnings per share 1.81 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Pakistan Cables Limited was incorporated in Pakistan as a private limited company on April 22, 1953. In 1955 it was converted into a public limited company. The foundations of the company are based on the Companies Ordinance, 1984. The products of the company include cables and wires, aluminum sections/ profiles, copper rod and PVC compound. In 1955 the stocks of the company were quoted on the Karachi Stock Exchange. The registered office of the company is located in Karachi.
Pakistan Cables is part of the Chinoy Group of Companies, which includes International Industries and International Steels Limited, as well as other interests in diverse businesses. The company is ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 certified and is the only cable manufacturer in Pakistan to have its cables type tested by the KEMA Laboratory in Netherlands. Pakistan Cables is an affiliate of General Cable, which has a global presence with 57 plants in 26 countries including the US, Canada, France, Germany, Spain, Brazil, China, Thailand, South Africa, and the Philippines. The affiliation with General Cable gives Pakistan Cables several advantages over its competitors, including the ability to source almost any type of cable for customers, access to cutting edge technology, technical support & management best practices, procurement advantages and export opportunities.
The symbol “PCAL” is being used by the stock exchanges for the shares of Pakistan Cables Limited.