Karachi: Hallmark Company Limited has released its financial results for the year ended June 30, 2024, announcing significant earnings despite no dividends, bonuses, or right shares distributed to shareholders. The meeting, conducted virtually by the Board of Directors on October 7, 2024, led to the approval of the financial statements, with the annual general meeting scheduled for October 28, 2024, at the Hotel Crown Inn, Karachi.

According to information available from the Pakistan Stock Exchange (PSX), Hallmark Company Limited reported a net revenue of 55.57 billion rupees for 2024, a substantial increase from the 1.80 billion rupees in the previous year. The direct costs associated with this revenue were 20.11 billion rupees, resulting in a gross profit of 35.46 billion rupees. Despite higher administrative and selling expenses, which summed up to 24.38 billion rupees, the company achieved an operating profit of 11.08 billion rupees.

The financial results highlighted an impressive turnaround with a profit before taxation of 34.89 billion rupees compared to a loss before taxation of 2.87 billion rupees in 2023. This marks a significant recovery, particularly notable in the earnings per share, which surged to 69.70 rupees from a loss of 5.68 rupees per share the previous year.

Hallmark’s financial year culminates with the anticipated transmission of the Annual Report through PUCARS at least 21 days before the annual general meeting, ensuring compliance and transparency for its shareholders. The closure of the share transfer books from October 22 to October 28, 2024, is in preparation for the upcoming shareholder meeting.