Pakistan Cables declares cash dividend of Rs8/share
KARACHI: Pakistan Cables Limited has announced a net profit of Rs553.60 million, translating into the earnings per share (EPS) of Rs15.56 for the year ended June 30, 2021, compared with the loss of Rs91.70 million and the loss per share (LPS) of Rs2.58 in the previous year, a bourse filing said on Thursday.
The company also declared a final cash dividend of Rs8/share along with the corporate announcement.
The net sales during the year under review clocked-in at Rs13.14 billion, up 44.70 per cent, compared with the sales of Rs9.08 billion in FY20.
During the year, the company’s finance cost declined 32 per cent to Rs192.47 million given the prevailing low interest rate regime. Other income also increased to Rs177.30 million in FY21, compared with Rs36.70 million in FY20.
Pakistan Cables is the premier cable manufacturer and market leader in Pakistan.
During 2010/17, the company remained an affiliate of General Cable, which was among the world’s largest cable companies at the time with a global presence of 57 plants in 26 countries.
The affiliation with the General Cable contributed to the pioneering stature of Pakistan Cables by enhancing technical support, exposure to innovative technology, exchange of best practices, procurement advantages and export opportunities.
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