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Lahore: Service Industries Limited (SRVI) and its subsidiary, Service Global Footwear (SGF), have announced a significant financial upturn, reporting a doubling of earnings for the first nine months of the calendar year 2025. The announcement came during their analyst briefing sessions, outlining both companies’ financial performance and future outlook.
SGF reported a substantial year-on-year increase in earnings, with figures reaching Rs1.64 billion. This growth was attributed to a 76% rise in earnings contributions from its associate, Service Long March (SLM), along with improved operational efficiencies at SGF plants and reduced financial charges.
SRVI also showcased a doubling of its earnings during the same period, amounting to Rs6.9 billion. The growth was driven by a 20% increase in revenue from the tyre segment and a 15% increase from the shoes segment. Additionally, the recognition of tax assets at SLM and a 22% reduction in financial charges contributed to the positive financial results.
In a strategic move, Service Industries intends to launch an Initial Public Offering (IPO) for its joint venture, Service Long March, in the first half of the calendar year 2026. The company plans to utilize the IPO proceeds to invest in the development of specialized tyres, marking an expansion in its business ventures.
The robust earnings performance and planned IPO signal a period of growth and investment for the Service group, positioning it well for future developments in the footwear and tyre industries.