National Foods Limited to Discuss Annual Accounts and Dividend Entitlements in Upcoming Board Meeting

Karachi: National Foods Limited has announced that a crucial Board of Directors meeting will take place on September 05, 2024. The meeting will focus on reviewing the Annual Accounts for the fiscal year that ended on June 30, 2024, and will discuss the declaration of any potential entitlements. According to information available from the Pakistan Stock Exchange (PSX), the company has also declared a “Closed Period” from August 29, 2024, to September 05, 2024, during which no director, CEO, or executive is permitted to trade the company’s shares.

The financial performance of National Foods Limited for the half year ended June 30, 2024, reflects a robust trend. The revenue from contracts with customers amounted to Rs. 7,974.023 million, compared to Rs. 6,122.977 million in the corresponding period of the previous year. The company achieved a gross profit of Rs. 3,750.332 million in 2024 against Rs. 3,453.538 million in 2023.

Operating profits were reported at Rs. 4,201.243 million, with finance costs at Rs. 22.895 million. The pre-tax profits stood at Rs. 4,094.998 million after accounting for final tax liabilities and other deductions. Net profit after taxation for the period was Rs. 4,000.314 million, resulting in earnings per share of Rs. 10.75, up from Rs. 9.37 in the prior year.

In addition to financial results, the company disclosed an interim cash dividend of 30%, equivalent to Rs. 3 per share, for the half year ended June 30, 2024. The Share Transfer Books will be closed from September 16, 2024, to September 17, 2024, to process this entitlement.

The disclosure form, as required under Section 96 of the Securities Act 2015, has been circulated amongst the TRE certificate holders of the Exchange for further transparency and compliance.

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