The profit of Packages Limited has declined by Rs 1,774.832 million to Rs 4,325.948 million in the calendar year ended December 31, 2008 as compared to Rs 6,100.780 million a year back. The earnings per share of the company stood at Rs 58.96 in the period under review against Rs 83.15 in the same period previously.
The board of directors of the company in their meeting held on Thursday recommended a nil cash dividend for the year against a cash dividend of 60 percent ie Rs 6.00 per share of Rs 10.00 announced in the year 2006. The board of directors however recommended bonus shares at the rate of 15 percent on the existing issued, subscribed and paid up share capital of the company.
According to the results, the company local sales increased to Rs 10.365 billion in the year 2007 against Rs 8.869 billion in 2006 while the export sales surged to Rs 174.771 million against Rs 158.820 million. The company's profit before tax stood at Rs 4,632.948 million in 2007 as compared to Rs 6,347.840 million in 2006.