Gadoon Textile Mill Board Reclassifies Unappropriated Profits as Capital Reserves to Reflect Investment Strategy

Karachi, In a recent board meeting held on June 22, 2023, Gadoon Textile Mill Limited (GTML) announced the decision to reclassify a sum of PKR 16.5 billion from unappropriated profits to capital reserves, emphasizing the company’s long-term investment and expansion strategy.

Over the years, GTML has been actively pursuing an expansion and diversification strategy, resulting in significant investments that have bolstered the enterprise value for its shareholders. As a consequence of these endeavors, the unappropriated profits generated by the company are now allocated towards various initiatives and are not entirely available for distribution as dividends.

To more accurately reflect the nature of these reserves and align them with the company’s strategic investments, the Board of Directors agreed to reclassify the sum of PKR 16.5 billion from revenue reserves to separate capital reserves. These capital reserves will be categorized as “un-distributable by way of dividend.”

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