Security Paper’s Profit surges 122% to Rs 746 Million during H1 FY23-24

  


Security Paper Limited (PSX: SEPL) released its financial statement for the first six months of the fiscal year ending December 31, 2023, announcing a profit of Rs 746 million (EPS Rs 12.59) showing a significant increase of 122% compared to the profit of Rs 336 million (EPS Rs 5.67) reported in the Same Period Last year (SPLY).

Going by the results, the Security Papers Limited’s (SPL) top line increased by 38% to Rs 3.49 billion as compared to Rs 2.53 billion in SPLY. The Company’s cost of sales rose by 26% to Rs 2.51 billion vs SPLY. However, due to a higher increase in sales, the gross profit improved substantially by 82% to Rs 976 million.

Expressing his delight on the results, SPL Chairman Mohammad Aftab Manzoor expressed that Security Papers strategic focus on increasing sales via diversifying its customer base, focus on operational costs and positive outcome of a number of reforms introduced in the Company has yielded superb financial performance. “Our strategic vision and relentless focus on new initiatives and diversification has more than doubled the EPS of the Company. The SPL’s strong performance is a testament to its commitment to progress aimed at delivering value to shareholders and customers.”

Expressing confidence in the future performance, the SPL chairman expressed that the recently concluded technical consultancy agreement with a leading European Security Paper Company that aims to benchmark SPL’s operational efficiencies will help in preparing comprehensive efficiency and cost improvement plans.

The Company also announced an interim dividend of Rs 2.5 per share (25%).

Comments

Post a Comment

Popular posts from this blog

Cheezious Launched Special Kitchen Tour Series to Commemorate World Food Safety Day 2024

Image
                     On World Food Safety Day Cheezious announced the launch of "Special Kitchen Tour Series." This initiative is designed to provide an exclusive, behind-the-scenes look at our kitchen facilities, showcase the stringent Standard Operating Procedures (SOPs) we follow, and highlight the extensive measures we take to maintain and elevate food safety standards. As part of this, Cheezious planned a series of visits with various esteemed institutions to demonstrate our commitment to food safety and share best practices with the community. The teams of Punjab Government Technical Training Institute for Women, School of Public Health, Food Authorities & College of Tourism & Hotel Management (COTHM) visited our Islamabad & Lahore Cheezious Branches. Head of Marketing Cheezious Zohaib Hassan said that "As a brand deeply committed to food safety and quality, we announced our 'Special Kitchen Tour Series' in honor of World Food Safety Day. This i
Read more

Price Drop! Dial to China at the Lowest Rates ever with Zong 4G!

Image
                   Zong 4G, the leading telecom service provider in Pakistan, is thrilled to announce the launch of new International Direct Dialing (IDD) China Bundles for both prepaid and postpaid customers. In a bid to enhance connectivity and provide greater value to the customers, Zong 4G is also significantly reducing the rates for IDD calls to China. Starting today, Zong 4G’s customers can enjoy new IDD China Bundles “ Kam Paisay Ziyada Baat ” & “ Pak-China Friendship Bundle ”. These bundles are a new offering that make communication for Chinese expats in Pakistan easier and more affordable. These bundles cater to the growing demand for reliable international  communication, allowing Zong customers to stay connected with their loved ones and business associates in China. Zong is providing smooth connectivity along CPEC routes, combined with affordable bundles the services aim to foster stronger business and personal relationships between the two nations. With triple the reso
Read more

Zong in collaboration with DCode offers affordable access to 4G connectivity by bundling discount and freebies with Cygnal 4 Lite

Image
   Taking one step ahead in bridging the digital divide, Zong, in partnership with DCode, is offering an affordable device-data bundle. This initiative is taken to further the accessibility of connectivity in the country and enable societies with high-speed internet, enabling broader participation in the digital economy and improving access to essential online services like business, education and healthcare, making 4G more accessible and affordable for the masses. Available at Zong Customer Service Centers in Karachi, Lahore, Islamabad and Rawalpindi, the device is offered for Rs. 21,999 only and comes packed with 12 GB free data bundle for six months, allowing customers to enjoy uninterrupted connectivity on Pakistan’s leading 4G network. The newly launched Cygnal 4 Lite is designed to offer a seamless 4G experience. With a 6.6” HD display, 8 GB RAM, 64 GB ROM (expandable up to 256 GB), and a robust 5000 mAh battery with Type-C support, the Cygnal 4 Lite is packed with features to de
Read more