Karachi: The Board of Directors of UNICAP Modaraba (UCAPM) has released its 1st Quarterly Financial Statements for the three months ending September 30, 2024. The un-audited financial report reveals significant strides in sustainability, primarily through the reduction of operations and administrative expenses compared to the same timeframe last year.
The financial statements indicate that UNICAP Modaraba is not only focusing on cost-cutting measures but is also committed to business expansion. The Modaraba is actively booking new assets and is in the process of developing innovative products and services to ensure future growth. This dual strategy reflects the company's robust approach to maintaining a balance between immediate financial prudence and long-term expansion.
The Board of Directors expressed their gratitude for the continuous guidance and support from the company's Sponsors, who are dedicated to the Modaraba's revival through their own private investments. The Board also acknowledged the unwavering trust and support from the certificate holders, which has been instrumental in the company's journey towards recovery.
Furthermore, the Board extended its thanks to the Securities and Exchange Commission of Pakistan (SECP) for their guidance and support, which has been pivotal in steering the company towards its current trajectory.
According to information available from the Pakistan Stock Exchange (PSX), the strategic planning and effective management by Map Out Management Company (Private) Limited, the managers of UNICAP Modaraba, are proving to be successful. The efforts to rejuvenate the Modaraba and transform it into an active business entity are evidently moving in a positive direction, as reflected in the latest financial outcomes.
The designated market category for UNICAP Modaraba remains a key focus area as the company continues to implement its growth strategies. The Board remains optimistic about the future, aiming to leverage the current momentum to achieve greater success in the upcoming quarters.