Karachi: Macter International Limited has announced its financial results for the fiscal year ended June 30, 2024, reflecting a significant improvement in both consolidated and unconsolidated profit margins. The Board of Directors, in a recent meeting, also declared a final cash dividend of 10 percent per share, which complements an earlier interim dividend of 12.5 percent.
For the year 2024, Macter International posted a consolidated revenue of 7.97 billion Rupees, up from 6.93 billion in 2023. The gross profit also rose to 3.42 billion from 2.91 billion in the previous year. The unconsolidated figures were similarly positive, with revenue reaching 7.54 billion Rupees compared to 6.68 billion last year, and gross profit improving to 3.18 billion from 2.78 billion. This growth in revenue and profit underscores the company's robust performance amidst challenging market conditions.
According to information available from the Pakistan Stock Exchange (PSX), the operating profit on a consolidated basis for 2024 stood at 718.67 million Rupees, a marked increase from 580.01 million in the preceding year. The unconsolidated operating profit followed this upward trend, registering at 712.67 million Rupees, up from 618.21 million. However, finance costs have increased on both fronts, indicating a rise in borrowing costs or increased leverage during the period.
Net profit after taxation also showed considerable improvement, with consolidated net earnings of 402.21 million Rupees and a basic and diluted earnings per share of 8.88 Rupees, up from 7.80 in 2023. Unconsolidated net profit mirrored this positive outcome, totaling 427.16 million Rupees, with earnings per share of 9.32 Rupees, an increase from 8.58 the previous year.
In line with these results, the Board has recommended a final cash dividend for the year ended June 30, 2024, at Rs. 1.00 per share, i.e., 10%. The company's share transfer books will be closed from October 18, 2024, to October 25, 2024, for entitlement to this dividend and for attending the upcoming Annual General Meeting (AGM) scheduled for October 26, 2024, in Karachi. No bonus or right shares have been issued this time.
These financial disclosures are expected to impact shareholder value positively and reflect the company’s sustained commitment to profitability and shareholder returns. The complete annual report will be available for review through the PUCARS system, at least 21 days before the AGM, offering stakeholders comprehensive insights into the company's financial health and operational success.