Karachi: Metropolitan Steel Corporation Limited has released its annual audited financial statements for the fiscal year ending June 30, 2024, highlighting the impact of a global economic slowdown and persistent inflation on its operations. According to the Chairman's review, these factors have significantly eroded demand, affecting the company's performance.

The company, while navigating these challenges, remains committed to growth despite economic volatility at both local and global levels. The Board of Directors, management, and employees are focusing on executing strategies to maintain high-quality product output and increase market share, which remains a key target amidst macro-economic imbalances.

According to information available from the Pakistan Stock Exchange (PSX), the Board has evaluated its performance as "satisfactory." The Chairman expressed gratitude towards Board Members for their participation and guidance and extended thanks to shareholders for their support and confidence.

Looking ahead, the Chairman expressed optimism about an increase in demand for high-carbon steel and mild steel wires, which could bolster the company's prospects in the foreseeable future.