Hala Enterprises Ltd.PSX: HAEL

Transmission of Quarterly Report for the Period Ended Dec-31,2025

Mar 2, 2026 at 3:27 AM UTC · Issued by Hala Enterprises Ltd.

Hala Enterprises Limited

https://www.halaenterprises.com https://www.terrytowels.org

HALF YEARLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2025

Half Yearly Report

Halo Enterprises Limited

CONTENTS

Company Information 2

Director's Review Report 3

Independent Auditor's Review Report 4

Condensed Interim Statement of F1nonciol Pos1tion Condensed Interim Statement of Prof1t or Loss Condensed Interim Statement of Comprehensive Income Condensed Interim Statement of Cosh Flows

Condensed Interim Statement of Changes in Equity

Notes to the Condensed Interim financial Information

10-12

Half Yearly Report

COMPANY INFORMATION

H a l f Y e a r l y R e p o r t

Half Yearly Report

DIRECTOR'S REVIEW REPORT

The Directors of the company hereby present the Directors Review Report on the operations of the company for the half year ended December 31, 2025.

Textile exporters of the country continued to face systematic disadvantages that undermine their

competitiveness against regional countries like India, Bangladesh and Vietnam. These disadvantages stem from combination of high taxation, elevated energy tariffs, expensive financing, wage pressures and absence of streamlined incentive mechanism, in-spite of above factors the performance of our company improved remarkably as compared to the corresponding period last year. A war footing sales strategy was implemented, shifting the focus from commodity business to value-added and technically advanced product lines. During the period under review the revenue increased from Rs. 221.30 million to Rs.319.30 million, Gross profit increased from Rs.40.1 million to Rs. 61.5 million and the company earned net profit Rs. 6.5 million against the loss of Rs.11.2 million corresponding period last year.

As reported earlier the imported air Jet looms from China have become operational and commercial production of these looms have started from February 2026. The addition of this machinery has strengthened our production efficiency, product quality, and export competitiveness, reinforcing our position in key international markets

The Board extends its sincere appreciation to our valued customers, suppliers, bankers, and employees for their unwavering commitment and trust in the Company. Their support has been instrumental in achieving yet another year of progress and stability. We remain confident that, with continued collaboration and strategic focus, the Company will further strengthen its operational base and deliver sustainable value to all stakeholders in the years ahead.

For & on behalf of the Board

(TAHIR JAHANGIR) CHAIRMAN

LAHORE: February 27, 2026

Half Yearly Report

INDEPENDENT AUDITOR'S REVIEW REPORT TO THE MEMBERS OF HALA ENTERPRISES LIMITED

REPORT ON REVIEW OF INTERIM FINANCIAL STATEMENTS

Introduction

We have reviewed the accompanying condensed interim statement of financial position of Hala Enterprises Limited as at December 31, 2025 and the related condensed interim statement of profit or loss, condensed interim statement of comprehensive income, condensed interim statement of changes in equity, and the condensed interim statement of cash flows, and notes to the financial statements for the six-month period then ended (here-in-after referred to as the "interim financial statements"). Management is responsible for the preparation and fair presentation of these interim financial statements in accordance with accounting and reporting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express a conclusion on these financial statements based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting maflers and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant maflers that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our aflention that causes us to believe that the accompanying interim financial statements are not prepared, in all material respects, in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting.

Other mafler

The figures of the condensed interim statement of profit or loss, condensed interim statement of comprehensive income for the quarters ended December 31, 2025 and 2024 have not been reviewed as we are required to review only cumulative figures for the six-month period ended on that date.

The engagement partner on the review resulting in this independent auditor's review report is Muhammad Nawaz (ACA).

Place: Lahore Date: February 27, 2026 UDIN: RR202510916RNmtorp69

Malik Haroon Ahmad & Co.

Chartered Accountants

Half Yearly Report

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT DECEMBER 31, 2025 (UN-AUDITED)

ASSETS

Non-Current Assets

Note

December 2025 June 2025 Un-Audited Audited

406,693,208	299,437,896
12,777,840	16,466,605
6,569,548	6,569,548

Property, plant and equipment 5

Long term investments Long term deposits

Current Assets		426,040,596	322,474,049
Stores and spares		5,711,793	3,010,336
Stock in trade		113,926,696	116,480,916
Trade debts		62,371,057	112,525,059
Advances, deposits, prepayments and other receivables		92,147,574	69,725,485
Tax refund due from Government		75,174,334	64,648,941
Due from related parties		451	-
Cash and bank balances		9,921,641	3,090,932
		359,253,546	369,481,669
TOTAL ASSETS		785,294,142	691,955,718
EQUITY AND LIABILITIES
Share Capital And Reserves
Authorized Share Capital
16,000,000 Ordinary shares of Rs. 10 each		160,000,000	160,000,000
Issued, subscribed and paid up capital		129,963,040	129,963,040
Reserves
Capital reserves
Surplus on revaluation of property, plant and equipment	6	204,712,546	207,738,432
Fair value reserve of financial assets at FVOCI		11,594,206	15,282,971
Other capital reserves		2,274,287	2,274,287
		218,581,039	225,295,690
Revenue reserves
Other revenue reserve		7,000,000	7,000,000
Accumulated loss		(53,526,888)	(63,076,981)
		(46,526,888)	(56,076,981)
Loan from Director		218,000,000	120,000,000

Total share capital and reserves		520,017,191	419,181,749
Liabilities
Non Current Liabilities
Deferred liabilities
Long term borrowing
Current Liabilities		39,340,003	41,715,471
Trade and other payables
Accrued mark up
Short term borrowings
Current portion of long term loan
Due to related parties	7
		225,936,948	231,058,498
Contingencies And Commitments	8
TOTAL EQUITY AND LIABILITIES		785,294,142	691,955,718

39,340,003	41,715,471
-	-

61,800,718	37,867,707
1,042,489	1,082,044
134,910,000	179,882,000
375,000	1,308,500
27,808,741	10,918,247

The annexed notes from 1 to 14 form an integral part of this condensed interim financial information.

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR

Half Yearly Report

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED)

FOR THE HALF YEAR ENDED DECEMBER 31, 2025

	Note	Half Year Ended	Half Year Ended	Quarter Ended	Quarter Ended
	Note	Dec 31, 2025	Dec 31, 2024	Dec 31, 2025	Dec 31, 2024

Revenue	9	319,278,477	221,302,989	150,047,420	133,602,524
Cost of revenue		(257,785,482)	(180,497,136)	(119,502,697)	(110,006,882)
Gross profit		61,492,995	40,805,853	30,544,723	23,595,642
Selling and distribution costs		(22,142,170)	(18,870,570)	(12,724,944)	(6,323,817)
Administrative expenses		(16,379,721)	(14,102,404)	(8,798,548)	(8,024,291)
Other operating expenses		(2,652,222)	(582,891)	(2,026,059)	(1,175,344)
		(41,174,114)	(33,555,865)	(23,549,551)	(15,523,452)
Operating profit		20,318,881	7,249,988	6,995,172	8,072,190
Finance cost		(9,866,085)	(16,701,223)	(1,814,082) (7,176,473)
Other income		930	374,307	930 -
Profit/(loss) before taxation and levies		10,453,726	(9,076,928)	5,182,020	895,717
Levies		(3,929,519)	(2,134,142)	(1,830,503)	(1,279,072)
Profit/(loss) before taxation		6,524,207	(11,211,070)	3,351,517	(383,355)
Taxation		-	-	-	-
Profit/(loss) after taxation		6,524,207	(11,211,070)	3,351,517	(383,355)
Earning/(Loss) per share - Basic		0.50	(0.86)	0.26	(0.03)
Earning/(Loss) per share - Diluted		0.50	(0.86)	0.26	(0.03)

The annexed notes from 1 to 14 form an integral part of this condensed interim financial information.

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR

Half Yearly Report

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UN-AUDITED)

Half Year Ended		Quarter Ended
Dec 31, 2025	Dec 31, 2024	Dec 31, 2025	Dec 31, 2024

Net profit/(loss) after taxation for the period Other comprehensive income / (loss) Items that will not be reclassified to profit and loss

Unrecognized actuarial gain due to experience adjustment

6,524,207

(11,211,070)

3,351,517

(383,355)

on remeasurement of staff retirement benefits

Items that may be reclassified subsequently to profit and loss

Gain/(Loss) on re-measurement of investment designated

(3,688,765)

3,796,532

(3,322,059)

4,426,668

Total comprehensive income for the period

2,835,442

(7,414,538)

29,458

4,043,313

The annexed notes from 1 to 14 form an integral part of this condensed interim financial information.

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR

Half Yearly Report

CONDENSED INTERIM STATEMENT OF CASH FLOWS

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UN-AUDITED)

Half year ended Half year ended December 31, 2025 December 31, 2024

CASH FLOW FROM OPERATING ACTIVITIES

Profit/(Loss) before taxation Adjustments for :	10,453,726	(9,076,928)
Depreciation	7,704,169	6,095,218
Provision for gratuity	2,741,472	2,701,199
Finance cost	9,866,085	16,701,223
	20,311,726	25,497,640
Operating profit before working capital changes	30,765,452	16,420,712
(Increase) / decrease in current assets
Stores and spares	(2,701,457)	(2,562,777)
Stock in trade	2,554,220	(3,665,900)
Trade debtors	50,154,002	10,158,684
Advances, deposits, prepayments and other receivables	(22,422,089)	(3,255,101)
Sales tax refundable	(2,618,415)	268,917
Due from associated undertakings	(451)	(398,232)
(Decrease)/ increase in current liabilities	24,965,810	545,590
Trade and other payables	24,996,452	22,321,221
Due to directors and associated undertakings	16,890,494	7,770,444
	41,886,946	30,091,665
Cash generated from operations	97,618,208	47,057,968
Income tax paid	(11,836,497)	(7,025,460)
Finance cost paid	(9,905,640)	(19,020,359)
Workers profit participation fund paid	(1,063,441)	-
Gratuity paid	(5,116,940)	(2,392,431)
	(27,922,518)	(28,438,250)
Net cash generated from operating activities	69,695,690	18,619,718
CASH FLOW FROM INVESTING ACTIVITIES
Capital expenditure on property, plant and equipment	(114,959,481)	(1,597,000)
Net cash used in investing activities	(114,959,481)	(1,597,000)
CASH FLOW FROM FINANCING ACTIVITIES
Receipt/(Payment) of long term borrowings	(933,500)	(1,300,500)
Receipt/(Payment) of short term borrowings	(44,972,000)	(10,738,147)
Proceeds from director loan	98,000,000	-
Net cash generated from/(used in) financing activities	52,094,500	(12,038,647)
Net increase in cash and cash equivalents	6,830,709	4,984,071
Cash and cash equivalents at the beginning of year	3,090,932	3,954,719
Cash and cash equivalents at the end of period	9,921,641	8,938,790

The annexed notes from 1 to 14 form an integral part of this condensed interim financial information.

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR

Half Yearly Report

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UN-AUDITED)

Particulars

Share Capital

Capital Reserves

Loan from Director

Revenue Reserves

Total Share Capital and Reserves

Surplus on

Revaluation of Property, Plant and Equipment

Fair Value

Reserve of Financial Assets at FVOCI

Other Capital Reserve

Total Capital Reserves

Other Revenue Reserve

Accumulated Loss

Total Revenue Reserves

---------------------------------------------------------------------------- Rupees ---------------------------------------------------------------------

BalanceasatJuly1,2024 129,963,040 214,382,376 7,079,978 2,274,287 223,736,641 - 7,000,000 (76,546,633) (69,546,633) 284,153,048

Net profit for the half year ended December 31, 2024 - - - - - - - (11,211,070) (11,211,070) (11,211,070)

Other comprehensive (loss) for the half year ended December 31, 2024 - - 3,796,532 - 3,796,532 3,796,532

Transfer from surplus on revaluationof property, plant and equipment in respect of incremental depreciation charged in current

- (3,321,972) - -

(3,321,972) -

- 3,321,972 3,321,972 -

BalanceasatDecember31,2024 129,963,040 211,060,404 10,876,510 2,274,287 224,211,201 - 7,000,000 (84,435,731) (77,435,731) 276,738,510

129,963,040 211,060,404 10,876,510		2,274,287	224,211,201 -		7,000,000	(84,435,731)	(77,435,731) 276,738,510
- - -		-	- -		-	25,068,945	25,068,945 25,068,945
- -	4,406,461	- 4,406,461		-	- (7,032,167)	(7,032,167)	(2,625,706)
- (3,321,972)	-	- (3,321,972)		-	- 3,321,972	3,321,972	-
- -	-	-	-	120,000,000 -	-	-	120,000,000
129,963,040 207,738,432	15,282,971	2,274,287	225,295,690	120,000,000 7,000,000	(63,076,981)	(56,076,981)	419,181,749

BalanceasatJanuary1,2025 Net (loss)/profit for the half year ended June 30, 2025 Other comprehensive (loss) for the half year ended June 30, 2025 Transfer from surplus on revaluationof property, plant and

equipment in respect of incremental depreciation charged in current Loan from Director

BalanceasatJune30, 2025

- - -	-	-
- -	(3,688,765)	- (3,688,765)
- (3,025,886)	-	- (3,025,886)

BalanceasatJuly1,2025 129,963,040 207,738,432 15,282,971 2,274,287 225,295,690 120,000,000 7,000,000 (63,076,981) (56,076,981) 419,181,749

Net (loss)/profit for the half year ended December 31, 2025 Other comprehensive (loss) for the half year ended December 31, 2025

- - 6,524,207 6,524,207 6,524,207

- - - - (3,688,765)

Transfer from surplus on revaluationof property, plant and equipment in respect of incremental depreciation charged in current

- - 3,025,886

3,025,886 -

Loan from Director - - - - - 98,000,000 - - - -

BalanceasatDecember31,2025 129,963,040 204,712,546 11,594,206 2,274,287 218,581,039 218,000,000 7,000,000 (53,526,888) (46,526,888) 422,017,191

The annexed notes from 1 to 14 form an integral part of this condensed interim financial information.

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR

Half Yearly Report

SELECTED NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UNAUDITED)

THE COMPANY AND ITS OPERATIONS
- Hala Enterprises Limited ("the Company") was incorporated in Pakistan under the repealed Companies Act, 1913 (now the Companies Act, 2017) as a Private Limited Company on May 16, 1973 which was subsequently converted into a Public Limited Company. The Company is primarily engaged in manufacturing and sale of terry towels, kitchen towels and terry cloth.
  1. Geographical location and addresses of business units
    1. The registered office of the Company is located at 17.5 KM Sheikhupura Road, Lahore.
    2. Manufacturing facilities are located at 17.5 KM Sheikhupura Road, Lahore.
    3. Administration and management office is situated at House No, 120 E1, Gulberg III, Lahore.
BASIS OF PREPARATION
- These condensedinterim financial statementsof the Company for the six months period ended December 31, 2025 is unaudited and has been prepared in accordancewith the requirements of the International Accounting Standard - 34: 'Interim Financial Reporting' and provisions of and directives issued under the Companies Act, 2017. In casewhere the requirements differ, the provisions of or directives issued under
  the Companies Act, 2017 have been followed.
- This condensedinterim financial statements has, however, been subjectedto limited scopereview by the
  statutory auditors of the Company, as required by the Code of Corporate Governance and is being submitted to the shareholders as required under Section 237 of the Companies Act, 2017.
- The comparative condensed interim statement of profit or loss and condensed interim statement of comprehensive income and notes, thereto, for the quarters ended December 31, 2025 and 2024 are also included in this condensed interim financial statements, which were not subject to review.
- This condensedinterim financial statementsdoesnot include all the information and disclosuresrequired
  for full financial statements, and should be read in conjunction with the company's audited annual financial Statements for the year ended June 30, 2025.
- These condensedinterim financial statements has been presented in Pak Rupees, which is the functional
  and presentation currency of the Company.
MATERIAL ACCOUNTING POLICY INFORMATION
- Accounting policies and methods of computation of this condensed interim financial statements is the same as those followed in the preparation of annual financial statements for the preceding financial year ended on June 30, 2025.
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

The preparation of these condensed interim financial statements in conformity with the approved accounting standards requires the use of certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
During preparation of these condensedinterim financial statements, the significant judgments made by

the management in applying the Company's accounting policies and the key sources of estimation and uncertainty were the same as those that applied in the preceding audited annual published financial statements of the Company for the year ended 30 June 2025.

5 PROPERTY, PLANT AND EQUIPMENT	December 2025 (Un-audited)	June 2025 (Audited)
Opening written down value	299,437,896	273,577,293
Additions during the period / year (at cost)	114,959,481	38,285,647
	414,397,377	311,862,940
Disposal during the period / year (at written down value)	-	-

Revaluation surplus

Depreciation charged for the period / year Written down value as at December 31, 2025

414,397,377 311,862,940

- -

(7,704,169) (12,425,044)

406,693,208 299,437,896

SURPLUS ON REVALUATION OF PROPERTY, PLANT ANDEQUIPMENT
Land - freehold Building
Plant and machinery Fittings and installations
Addition in surplus on revaluation of property, plant & equipment Surplus realized on disposal of assets
133,498,480 133,498,480
27,444,453 28,888,898
46,785,023 51,983,359
10,475 11,639
207,738,432 214,382,376
- -
- -
Incremental depreciation charged on revalued property, plant and equipment during the period / year transferred to retained earnings
(3,025,886)
(6,643,944)
10

204,712,546 207,738,432

Half Yearly Report

SELECTED NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UNAUDITED)

DUE TO RELATED PARTIES
Due to related parties carry mark up @11.39% (2024: 17%) per annum. However, directors have given waiver of interest on their balancefor the current period and comparative financial year due to liquidity issues of the Company.
CONTINGENCIES AND COMMITMENTS

REVENUE	Half Year Ended		Quarter Ended
	Dec 31, 2025	Dec 31, 2024	Dec 31, 2025	Dec 31, 2024
	(Un-audited)	(Un-audited)	(Un-audited)	(Un-audited)

There is no material change in the status of contingencies and commitments as reported in the annual financial statements for the preceding year ended June 30, 2025 and the proceedings of the same are in process. Further, there are no commitments as at December 31, 2025 (June 30, 2025: Nil).

Export sales		307,307,669	213,414,212	144,304,954	128,797,705
Local sales	9.1	7,053,885	5,901,921	3,452,023	2,703,621
		314,361,554	219,316,133	147,756,977	131,501,326
Duty drawback		-	-	-	-
Export rebate		4,916,923	3,201,213	2,290,443	2,101,198
Trade discount		-	(1,214,357)	-	-
Total sales		319,278,477	221,302,989	150,047,420	133,602,524
Local
9.1 Gross sales		8,602,299	7,197,465	4,209,784	3,297,099
Sales tax		(1,548,414)	(1,295,544)	(757,761)	(593,478)
		7,053,885	5,901,921	3,452,023	2,703,621

TRANSACTIONS AND BALANCES WITH RELATED PARTIES
11

Related parties comprise associated undertakings, related group companies, directors and key management personnel. Transactions with related parties and associated undertakings, other than remuneration and benefits to key management personnel under the terms of their employment are as follows:

Related Party	Relationship	Nature of Transaction	Half Year Ended	Half Year Ended
			Dec 31, 2025	Dec 31, 2024
			(Un-audited)	(Un-audited)
		Interest charged by the Company on
		balance	4,334	1,205,160
Premier Garments Limited	Associated Company	Amount paid during the year by the Company Amount received during the year by the Company	713,000 550,000	4,540,000 8,990,000
		Expenses paid by related party	163,000	10,800

		Interest charged by the related party
		on balance	409,416	294,320
Punjab Oil	Associated	Amount Paid during the year by the Company	-	477,495
Mills Limited	Company	Expenses paid by related party on behalf of the Company Amount received during the year by	758,644	1,402,345
		the Company	-	189,495

Tee Jay Corporation	Associated	Interest charged by the Company on balance Expenses paid by related party on	451	374,307
(Private) Limited	Company	behalf of the Company Amount paid during the year by the Company	318,900 318,900	23,925 -

SELECTED NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UNAUDITED)

Directors

Amount paid during the year by the Company

Expenses paid by the company on behalf of related party

Amount received during the year by

the Company

Loan received during the priod

64,931,900

2,943,366

Associated Person

80,650,000

98,000,000

12,573

3,673,358

Outstanding Balance at the Period / Year Ended	Dec 31, 2025	June 30, 2025
Outstanding Balance at the Period / Year Ended	(Un-audited)	(Audited)

Premier Garments Limited	Due from associated company	4,334	-
Punjab Oil Mills Limited	Due to associated company	11,215,046	10,046,986

Due from associated company	451	-
Due to director	16,589,361	871,261
Advance Against Salary	200,000

Tee Jay Corporation (Pvt.) Limited

Directors

SEGMENT INFORMATION

For management purposes, the activities of the Company are recognized into one operating segment, i.e. manufacturing and salesof towel. The Company operatesin the said reportable operating segmentbased on the nature of the product, risk and return, organizational and management structure and internal financial reporting systems. Accordingly, the figures reported in this condensed interim financial statements relate to the Company's only one reportable segment. Company-wide disclosures regarding the reportable segments are as follows:

Information about products:

- Terry towel

Major customers:

84.05%

87.27%

- 6 customers (June 2025: 7 customers)

67.38%

77.52%

Revenue from external customers attributed to foreign countries

97.76%

97.34%

- All non-current assets of the Company are located in Pakistan as at the reporting date.

December 2025	June 2025
(Un-audited)	(Audited)
------------- (Rupees) ---------------

SHARIAH COMPLIANCE DISCLOSURE

- Statement of Financial Position Markup accrued on conventional loans	1,042,489	1,082,044
Long term Shariah compliant investments	12,777,840	16,466,605
- Statement of Profit or Loss and Comprehensive Income
Revenue earned from a Shariah compliant business segment	319,278,477	553,561,763
Exchange gain/(loss) from actual currency	(2,452,222)	2,568,528
Breakup of other income excluding profit in bank deposits
Shariah Compliant income Impairment gain on compliant financial instruments	-	549,592
Exchange gain	-	4,729,872
Shariah Non-Compliant income Interest income on conventional bank deposits	479	1,038
Interest income from related parties	451	595,377

AUTHORIZATION OF INTERIM FINANCIAL INFORMATION
This condensedinterim financial statements(un-audited) is authorized for issuanceon February 27, 2026 by the Board of Directors of the Company.
GENERAL

Corresponding figures are re-arranged / re-classified, wherever necessary, to facilitate comparison. No

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR

W Halo

Enterprises Limited

J7.5 km Sheikhupura Road, Lahore - PK Tel: + 92 (42) 3797 0130, 3797 0230

Fax: + 92 (42) 3797 0681

E-mail: corporate@halaenterprises.com www.halaenterprises.com www.terrytowels.org

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