Saif Textile Mills Limited Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017
February 26, 2018
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Saif Textile Mills Limited announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2017. For the second quarter, the company's net sales were PKR 2,054,485,000 against PKR 1,936,970,000 a year ago. Profit from operations was PKR 125,678,000 against PKR 74,524,000 a year ago. Profit before taxation was PKR 9,659,000 against loss before taxation of PKR 13,530,000 a year ago. Profit after taxation was PKR 18,486,000 or PKR 0.70 per basic/diluted share against loss after taxation of PKR 26,187,000 or PKR 0.99 per basic/diluted share a year ago.
For the six months, the company's net sales were PKR 3,799,440,000 against PKR 3,783,271,000 a year ago. Profit from operations was PKR 220,015,000 against PKR 189,387,000 a year ago. Profit before taxation was PKR 12,149,000 against PKR 124,415,000 a year ago. Profit after taxation was PKR 20,609,000 or PKR 0.78 per basic/diluted share against loss after taxation of PKR 6,706,000 or PKR 0.25 per basic/diluted share a year ago.
Saif Textile Mills Limited is a Pakistan-based company that is principally engaged in manufacture and sale of yarn. The Company offers a diverse range of product line for multiple end-uses, including denim, apparel, shirting, home textile and technical fabrics. Its products include accru yarn, dyed yarns, melange yarns, special yarns for knitting and weaving and surgical cotton. It delivers yarns that are fully palletized, as well as soft wound yarn on dye/ perforated plastic cones with the option of 4° 20' and 0° cylindrical cone angles. Surgical Cotton are being supplied to various local and international customers dealing with healthcare products. The dyed yarns include polyester/cotton, 100% spun polyester, bamboo, coolmax, acrylic, modal, tencel, viscose, and silk. The Company exports its products to Turkey, Poland, Germany, Geneva, Tajikistan, and Russia.