KARACHI: Security Papers Limited (SPL) earned a profit after tax of Rs 1.49 billion in 2024, representing 54 percent increase from last year.

SPL held its 59th Annual General Meeting (AGM) at its head office, where shareholders approved the annual audited financial statements for the year ended June 30, 2024. Mohammad Aftab Manzoor, Chairman of the Board, chaired the meeting and attended by other members of the Board of Directors and Senior Management.

During the AGM, shareholders reviewed and approved the Company's impressive financial performance, marked by a 55 percent increase in profit before tax to Rs 2.392 billion and record sales revenue of Rs 7.312 billion.

Notably, the profit after tax stood at Rs 1.489 billion in 2024, representing 54 percent increase from last year.

The shareholders also approved the highest-ever dividend of Rs 12.50 per share, representing 125%. This includes an interim cash dividend already paid at the rate of Rs 2.50 per share, and a final cash dividend of Rs 10.00 per share.

The shareholders expressed satisfaction with the Company's performance and appreciated the management's efforts in achieving remarkable growth despite challenging economic conditions.

Copyright Business Recorder, 2024