Secure Logistics Group Reports Significant Growth in Profits for First Half of 2024

Karachi: Secure Logistics Group Limited has announced a notable increase in profit for the first half of the year, ending June 30, 2024. According to the company’s latest financial statements, Secure Logistics Group’s net revenue reached 1.24 billion Rupees in the first six months of 2024, up from 1.11 billion Rupees in the same period last year. The company’s profit after tax also rose significantly, from 188.25 million Rupees in the first half of 2023 to 227.38 million Rupees in 2024.

The growth in revenue and profit is primarily due to improved operational efficiency and a decrease in the cost of services, which dropped from 652.59 million Rupees in the first half of 2023 to 631.61 million Rupees in the same period of 2024. Gross profit saw a substantial increase, reaching 605.93 million Rupees compared to 454.99 million Rupees in the prior year.

Administrative expenses and other costs have also been effectively managed. Despite an increase in finance costs, which escalated from 127.33 million Rupees to 183.64 million Rupees, the company managed to maintain a healthy bottom line.

According to information available from the Pakistan Stock Exchange (PSX), Secure Logistics Group’s operational success is reflected in its share of profit attributable to equity holders of the holding company, which increased to 223.81 million Rupees in the first half of 2024 from 188.25 million Rupees in the previous year. This has led to a rise in earnings per share, from 1.13 Rupees per share to 0.83 Rupees per share over the same period.

Taxation for the period was recorded at 56.48 million Rupees, higher than the 39.47 million Rupees reported last year, indicating the company’s increased profitability and tax liabilities. The company’s robust performance underscores its capacity to generate shareholder value even amidst challenging market conditions.

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