Financial results of SG Allied Businesses Limited for Quarter ended March 31, 2022

Karachi, SG Allied Businesses Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on April 28, 2022.

The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2022 which portrayed a loss of Rs. 4,051,347 with loss per share 0.27 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 April 28, 2022 to April 30, 2022 (both days inclusive).

SG Allied Businesses Limited (Formerly S.G. Fibre Ltd) emerged as a Private Limited Company on December 11, 1968, with the name of SG Rayon Mills that later converted into a Public Limited Company on March 16, 1994 and renamed as SG Fibre Limited on November 3, 1994.

SG Allied Businesses Limited (Formerly S.G. Fibre Ltd) was listed on the Karachi Stock Exchange on March 28, 1996 and just after a year of its enlistment the Company’s share became highest among the category of Filament Yarn Manufacturers on the Exchange.

SG Allied Businesses Limited (Formerly S.G. Fibre Ltd) has been one of the most modern and technologically advance Polyester Filament Yarn Manufacturer in Pakistan. Our Mill was equipped with the World’s Leading Machineries which is coupled with the highest competence of Technological Support and that is what used in the Production of our Specialty Yarn.

The Quality of our products remained widely recognized among the work of other Filament Yarn Manufacturers and it catered a sphere of Clients around the world.

We were the first company to start High Quality Polyester Fabric Jet Dyeing in Pakistan in 1977-1978 and it was the sole business of the company up to the year 1982. In the same year Our Polyester Yarn Manufacturing Unit started the Production of Pre-Oriented Yarn (POY) for the First time in Pakistan.

Lately, due to adverse economic conditions the Filament Yarn industry faced difficulties so as to remain a viable venture. Recently, the Company has diversified its business activities towards more lucrative options such as agriculture based products and cold storage; aligning to this diversification, the Company has been restyled as “SG Allied Businesses Limited”.