Karachi: Hoechst Pakistan Limited has announced that its Board of Directors will meet on October 23, 2024, via video-link to consider the condensed interim financial statements for the nine-month period ending on September 30, 2024.
According to information available from the Pakistan Stock Exchange (PSX), the company has also declared a "Closed Period" from October 16, 2024, to October 23, 2024, in compliance with Clause 5.6.4 of the PSX regulations. During this closed period, the company has stated that no Director, CEO, or Executive will be allowed to deal, either directly or indirectly, in the company’s shares until the financial information is made public.
The company has requested that the Trading Right Entitlement (TRE) Certificate Holders of the Exchange be informed of this development accordingly.
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National Foods Reports Steady Q1 Fiscal 2025 Results Amid Challenging Market Conditions
Karachi: National Foods Limited disclosed its financial results for the first quarter of fiscal year 2025, revealing a stable performance with modest year-over-year growth in net profit and earnings per share. The meeting held on October 15, 2024, at the company’s headquarters on Claremont Road, Karachi, was pivotal as the board discussed these results, which were subsequently released to the public.
In the first quarter ending September 30, 2024, National Foods generated a revenue of PKR 23.25 billion, a slight increase from PKR 19.05 billion reported in the same quarter the previous year. According to information available from the Pakistan Stock Exchange (PSX), the company's cost of sales also saw a proportional increase, resulting in a consistent gross profit margin year-over-year.
The operational profit for the quarter stood at PKR 1.55 billion compared to PKR 1.96 billion a year ago, reflecting stringent cost management and efficiency improvements despite rising operational costs. This was particularly notable in selling and distribution expenses, which remained well controlled.
Net income for the quarter was PKR 589.10 million, up from PKR 829.38 million in the previous year, underscoring a significant improvement in profitability. Earnings per share also increased to PKR 1.16 from PKR 2.42 in the prior year, signaling a positive response to the company’s strategic initiatives under challenging economic conditions.
National Foods’ balance sheet remains healthy with sustained investments in operational efficiencies, which are evident from their comprehensive income and cash flow statements. As the company continues to navigate through market fluctuations, these results reflect its resilience and strategic foresight in maintaining steady growth.
The detailed financial results have been made available to shareholders and are expected to be transmitted through PUCARS within the stipulated time frame. As National Foods moves into the remaining quarters of the fiscal year, market watchers and investors will likely keep a close eye on how it manages operational costs and capitalizes on market opportunities to ensure sustained growth.