Pak Aero Packwine Limited Reports Strong Financial Growth in 2024

Karachi: Pak Aero Packwine Limited disclosed a significant improvement in its financial standings for the year ended June 30, 2024, as evidenced by its latest financial statements. The company’s total assets and equity have shown remarkable increases, alongside a notable rise in profits.

In the fiscal year 2024, Pak Aero Packwine Limited posted sales totaling PKR 833.80 million, a substantial rise from the PKR 589.12 million reported in 2023. This growth in sales led to a gross profit of PKR 134.10 million, up from PKR 81.93 million in the previous year, reflecting a stronger market position.

According to information available from the Pakistan Stock Exchange (PSX), the company’s cost of sales also saw a hike, amounting to PKR 699.70 million in 2024 compared to PKR 507.19 million in 2023. Despite the increase in costs, the net profit after taxation soared to PKR 39.26 million, more than doubling the PKR 19.49 million recorded in 2023. This result translates to a basic and diluted earnings per share of PKR 1.96, up from PKR 0.97.

On the liabilities side, the company’s total equity and liabilities rose to PKR 684.98 million in 2024 from PKR 520.04 million in 2023. The increase was supported by a substantial rise in non-current liabilities, which more than doubled to PKR 103.11 million. Current liabilities also escalated to PKR 170.51 million, reflecting the firm’s expanded operations.

The asset base of Pak Aero Packwine Limited expanded significantly, with non-current assets nearly doubling to PKR 457.61 million, driven primarily by operating fixed assets. Current assets, however, showed a slight decrease from PKR 298.98 million in 2023 to PKR 206.58 million in 2024, mainly due to a reduction in stock in trade and trade debts.

This financial performance marks a pivotal year for Pak Aero Packwine Limited, indicating robust operational and financial management that has positioned the company for sustainable growth in the competitive market.

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