Karachi, Service Industries Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on June 25, 2020.
The agenda of the meeting was discussion of consolidated profit and loss account for year ended December 31, 2019 which portrayed a profit of Rs. 1,359,009 with earnings per share 73.00 basic and diluted respectively.
Further, 75% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from July 10, 2020 to July 17, 2020 (both days inclusive).
Service Industries Limited was incorporated as a private limited company on March 20, 1957. The foundations of the company were laid under the Companies Act, 1913 now the Companies Ordinance, 1984. The company was later converted into a public limited company on September 23, 1959. The principal activities of the Company are purchase, manufacture and sale of footwear, tyres and tubes and technical rubber products. The registered office of the company is located in Lahore. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.
The company is ISO 9001 certified. Besides this the company is a member of Satra. The guidelines of Satra are used for the quality check of the shoes. The company is audited by the European customers for assuring that the compliance standards are followed appropriately. More than 6000 employees are working for the company.
The symbol “SRVI” is being used by the stock exchange for the shares of Service Industries Limited.