Karachi: Universal Network Systems Limited disclosed its audited financial statements for the year ended June 30, 2023, following a meeting of the Board of Directors held on November 3, 2023, in Karachi and through video conferencing. The company released both unconsolidated and consolidated statements of profit or loss, which are attached as ‘Annexure A’ and ‘Annexure B’.
The financials reveal that income from courier and allied services for the year stood at 1,191,922,180, with additional CBC handling charges income at 26,390,594, and international freight contributing 133,852,779. The cost of sales in courier and allied services amounted to (1,110,531,149). Universal Network Systems reported an operating profit of 75,377,703 and a profit after tax of 75,453,126. Earnings per share were reported at 2.75.
For the consolidated financials, income from courier and allied services was slightly higher at 1,192,084,802, with CBC handling charges income and international freight bringing in similar figures to the unconsolidated report. The consolidated report showed an operating profit of 75,623,493, with a significant other income of 120,726,215 contributing to a higher profit before taxation at 186,176,427. After accounting for taxation, the profit after tax was reported at 166,365,391, and earnings per share were at 6.07.
The company has scheduled its Annual General Meeting for November 27, 2023, in Karachi. The Share Transfer Books will be closed from November 21, 2023, to November 27, 2023, with transfers received at the close of business on November 20, 2023, to be considered for the purpose of attending and voting at the AGM.
The Annual Report will be transmitted through the Pakistan Unified Corporate Reporting System (PUCARS) at least 21 days prior to the AGM, as per regulatory requirements.