Qudsia Bano

Century Paper and Board Mills Limited’s sales revenue increased 44% to Rs12.3 billion in the first quarter of financial year 2022-23 (1QFY23) compared with Rs8.5 billion over the corresponding period of last year. The gross profit of the company, however, decreased 16% to Rs1.06 billion in 1QFY23 from Rs1.27 billion in 1QFY22. The company’s net income also decreased 62% to Rs238 million in 1QFY23 from Rs630 million in 1QFY22, reports WealthPK.

Performance in FY22

During the fiscal year 2021-22, the company maintained a strong sales trend, generating revenue of Rs39 billion over Rs28 billion in FY21, posting an increase of 36% year-on-year.   The gross profit for FY22, however, stood at Rs4.9 billion, 13% down from Rs5.7 billion in FY21. The profit-after-tax for the year also plunged 25% to Rs2.2 billion in FY22 from Rs2.9 billion in FY21.

The earnings per share in 2021 peaked at Rs14.59 before dropping to Rs10.90 in 2022. The company’s contribution to the national exchequer for 2022 increased to Rs8.5 billion compared to Rs6 billion in 2021.

As of June 30, 2022, directors, the chief executive officers, their spouses and minor children owned 0.08% of the company’s shares. Associated companies, undertakings, and related parties held 68.88% of the shares. Banks, development financial institutions, and non-banking financial institutions owned 3.42% of the total shares.

Insurance companies held 2.76% of the shares, Modarabas and mutual funds owned 4.44%, general public held 13.42%, and ‘others’ possessed 4.55%. Century Paper & Board Mills Limited was established as a public limited company in Pakistan on August 2, 1984, under the now repealed Companies Ordinance, 1984. The company produces and markets paper, board and associated items.

Credit : Independent News Pakistan-WealthPk