CY16 was a pleasant year for PKGP’s as its earnings were up by 70 percent, year-on-year. The company showed a decent increase in its top line on the back of growing FMCG sector. The higher sales along with growth in dividend income helped Packages Limited to give a tremendous bottom-line
CY17 seems to have started on a slower note for the firm as the top line remained stagnant in 1QCY17, and the bottom-line receded by six percent year-on-year.
However, this is just the beginning; the firm has been investing vigorously, and has ambitious future plans. In efforts towards technological up gradation, PKGS invested Rs292 million in a new offset printing line having double coating capability in 2016 to cater to the growing demand in the folding cartons business. The company also made an investment of Rs122 million in their pre-press department for a state of art engraving machine and cylinder making line to provide its customers with the highest quality of printing. Furthermore, it also made strategic investments of Rs82 million including a new facial line, toilet roll line and a fully automated party pack machine to meet growing customer demand in 2016.
Also part of its investments in 2016 was Rs309.5 million in the equity of OmyaPack (Private) Limited to set up a state of the art production facility in Kasur, Punjab that will supply a range of high quality ground calcium carbonate products specifically tailored to meet local and regional markets.
Diversifying into different lines, the firm has incorporated a wholly-owned subsidiary, Packages Power (Private) Limited, for the purpose of setting up a 3.1 MW hydropower project with an initial equity injection of Rs25 million.
The firm has also developed a retail mall– Packages Mall – in Lahore, which is opening its doors to the public today.
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