The 36th annual general meeting (AGM) held on Friday, of one of the most diversified food companies in the country, National Foods Ltd, endorsed the excellent financial results achieved for the financial year ending June 30. A final cash dividend of Rs two per share and three bonus shares for every 10 ordinary shares held were approved.
The AGM was informed that the company achieved sales of Rs 2.39 billion during the year, compared to sales of Rs 1.84 billion in the previous year. Similarly profit after tax registered a sizeable increase at Rs 129 million compared to a little over Rs 70 million in the previous year. The corresponding earnings per share stood at Rs 30.41 compared to Rs 16.55 in the previous year.
"National Foods Limited's strong growth is directly attributable to our adherence to our vision and our core values in all our operations and credit goes to the company's management and its employees who worked as a close knit team to convert the vision into reality," said Company Managing Director and Chief Executive Abrar Hasan. National Foods Limited is manufacturing over 110 food products in 12 major categories, ranging from plain spices, ingredients and basic recipes to pickles, ketchup, snacks, desserts and jams and jellies.-PR