Half yearly report
(Unaudited)december 31,
2024
CONTENTS
Page N0. | |
Company Information | 01 |
Directors` Review | 02 |
ٹروپر هزئاج ﯽﮐ زرٹکيرئاڈ | 04 |
Independent Auditor`s Review Report | 06 |
Condensed Interim Statement of Financial Position (Unaudited) | 07 |
Condensed Interim Statement of Profit or Loss Account (Unaudited) | 08 |
Condensed Interim Statement of Other Comprehensive Income (Unaudited) 09 | |
Condensed Interim Statement of Changes in Equity (Unaudited) | 10 |
Condensed Interim Cash flow Statement (Unaudited) | 11 |
Notes to the Interim Financial Statements | 12 |
Company Information
Board of Directors | ||
Mr. Fakhir Ahmed | : | Chairman |
Mr. Muhammad Atif | : | Chief Executive |
Mr. Muhammad Siraj | : | Director |
Mr. Salman Haroon | : | Director |
Mr. Qazi Muhammad lmran | : | Director |
Ms. Hina Faiyaz | : | Independent Director |
Ms. Saba Irfan | : | Independent Director |
Audit Committee | ||
Ms. Hina Faiyaz | : | Chairperson |
Mr. Muhammad Siraj | : | Member |
Ms. Saba lrfan | : | Member |
HR & Remuneration Committee | ||
Ms. Saba lrfan | : | Chairperson |
Ms. Hina Faiyaz | : | Member |
Mr. Fakhir Ahmed | : | Member |
Company Secretary | : | Mr. Iqbal Shahid |
Bankers | : | United Bank Limited |
: | Habib Bank Limited | |
: | Meezan Bank Limited | |
: | Bank Alfalah Limited | |
: | MCB Bank Limited | |
: | Habib Metropolitan Bank Limited | |
: | BankIslami Pakistan Limited | |
Auditor | : | Aslam Malik & Co. |
Chartered Accountants | ||
Legal Advisor | : | Ahmed & Qazi |
Advocates & Legal Consultants | ||
Share Registrar | : | F.D.Registrar Services (Pvt.) Ltd |
Office No. 1705, 17th Floor, | ||
Saima Trade Tower-A, | ||
I.I Chundrigar Road, | ||
Karachi | ||
Registered Office | : | WS7, Mezzanine Floor |
Madina Palace, Faran | ||
Co-operative Housing Society | ||
Dhoraji Colony | ||
Karachi |
Half Yearly Report December 31, 2024 | 1 |
DIRECTORS' REVIEW
The Directors of Quice Food Industries Limited (the "Company") present herewith Directors' Review together with condensed Interim Financial Statements of the Company for the Half year ended December 31, 2024.
Financial Highlights
Half Year Ended | ||
December | December 2023 | |
Description | 2024 | |
-------------Rupees in`000'--------------- | ||
Sales | 495,288 | 233,995 |
Gross profit | 87,171 | 42,345 |
Loss after taxation | (5,434) | (15,668) |
Loss per share - | ||
Rupees | (0.055) | (0.159) |
The Company's revenue for the period was impressive coming in at Rs. 495.288 million as against Rs. 233.995 million in the previous year. An increase of 111.67%.
This surge in revenue was led by exports sales as the Company continues to prioritize growth in export markets.
During the period under review, the Company recorded Gross profit of Rs. 87.171 million as against Rs. 42.345 million during the same period last year. Gross profit has increased by 105.86%, which is mainly attributable to enhanced top line revenue, stable exchange rate, and better sales mix ,market strategy which enabled us to mitigate the impact of utility prices and minimum wages.
The company reported a Loss after taxation of Rs. 5.434 million compared to loss of Rs. 15.668 million in the corresponding period. Due to persistent cost push inflation in the country and due to political unrest, the industry as a whole could not reap the fruits of positive sentiments of the economy. However, your Company managed to curtailed loss by effective cost management policies across all operations of the Company.
Similarly, the Loss per share of the Company stood at Re 0.055 whilst, it was Re. 0.159 during the same period last year.
Half Yearly Report December 31, 2024 | 2 |
FUTURE OUTLOOK
Economic conditions are showing signs of improvement. Inflation and discount rates are dwindling gradually and a relatively stable exchange rate. Additionally, the Pakistan Stock Exchange (PSX) has performed exceedingly well in past few months.
Inspite of overall improvement in economic indicators, Consumer spending on non staple food items is on the decline. With commencement of Holy month of Ramadan next month, demand for our Syrups (Sharbat Roh-e- Shireen and Ice Cream Syrup) and juices and soft drink is expected to increase substantially.
ACKNOWLEDGEMENT
The Board of directors would like to acknowledge and appreciate our employees and management for their dedication and hard work and other external stakeholders for their continued support.
On Behalf of the Board of Directors
Chief Executive | Chairman |
Date: 26 February, 2025
Karachi.
Half Yearly Report December 31, 2024 | 3 |
هزئاج اک زرٹکيرئاڈ | ||||||||||||||||||||||||
پم | ل | امشش | او | و | ﻢﺘﺧ وک 2024 ، مسد 31 ز | ک | ئاڈ | (" | پم ") ڈٹیمل ز | سڈنا ڈوف س وک | ||||||||||||||
۔ | ہ دوجوم ﮫﺗاس | زئاج | ز | ک | ئاڈ ﮫﺗاس | تانا ب | ا لام یروبع | ﺘخم | ||||||||||||||||
ںا | لھج | ا لام | ||||||||||||||||||||||
ﻢﺘﺧ لاس ﻒﺼﻧ | ||||||||||||||||||||||||
2023 | مسد | 2024 | مسد | ل ﺼفت | ||||||||||||||||||||
-------------Rupees in`000'--------------- | ||||||||||||||||||||||||
233,995 | 495,288 | یندما | ||||||||||||||||||||||
ٓ | ||||||||||||||||||||||||
42,345 | 87,171 | ﻊﻓﺎنم یعومجم | ||||||||||||||||||||||
(15,668) | (5,434) | نﺎصقن دعب ﮯﮐ سکيٹ | ||||||||||||||||||||||
(0.159) | (0.055) | نﺎصقن صصح یﻓ | ||||||||||||||||||||||
ور | ﻠم 495.288 | باقم | ﻠم 233.995 لاس | ھچ وج | ر ﻦکﺮﺛاﺘم | دمآ | پم | ل | تدم سا | |||||||||||||||
۔او | ہفاضا دﺼ ف %111.67۔ ر | |||||||||||||||||||||||
ﯾد ﺢیجﺮﺗ وک | ﺮﺗ | م ںوﯾڈﻨم یدمآﺮب | پم | ہکنویک و | تﺧوﺮف | تادمآﺮب تدا ﻗ | اضا سا | م | دمآ | |||||||||||||||
۔ | ||||||||||||||||||||||||
تدم | ا | لاس | ھچ وج ا ک ڈرا ر ﻊفاﻨم ومجم ا | ور | . | پم ،نارود | تدم هزئاج ﺮ ز | |||||||||||||||||
ﻠم 87 171 | ||||||||||||||||||||||||
وینو ر ﻦئﻻ پاٹ | ہب ﺮﭘ روط یدا | ب وج ، | او | ہفاضا ا | . | م ﻊفاﻨم | ومجم ۔اھﺗ | . | ||||||||||||||||
%105 86 | ﻠم 42 345 نارود، | |||||||||||||||||||||||
یﻠ ٹوﯾ | م | سج | بوس م | مع تم ح | ﭧ کرام ،سکم زﻠ س | ہب روا ،ﭧ ر ﺞﻨیچسک ا ﻢ حﺘسم | ||||||||||||||||||
۔ا اﻨب ل اﻗ | ﺮک ﻢ وک تاﺮﺛا | تﺮجا ﻢ زا ﻢ روا ںوﺘم ﻗ | ||||||||||||||||||||||
ﻢ زا ﻢ روا ںوﺘم ﻗ | یﻠ ٹوﯾ | م | سج | مع تم ح | ﭧ کرام ،سکم زﻠ س | ہب روا ،ہلدا م ح | ﻢ حﺘسم | |||||||||||||||||
۔ا اﻨب ل اﻗ | ﺮک ﻢ وک تاﺮﺛا | تﺮجا | ||||||||||||||||||||||
ناﺼقن دع | ا ل سک ٹ ا | ور | ﻠم 5.434 | م | باقم | ناﺼقن | ور | ﻠم 15.668 م تدم | ا | پم | ||||||||||||||
تش عم ﺮﭘ روط | ومجم تعﻨﺻ | ہجو | یﭼ | ا س روا ہفاضا لسﻠسم | م | ا ﻨہم | م | ﻠم ۔ا ک ٹرو ر | ||||||||||||||||
ماظﺘنا | ت ﻻ ﺮﺛﺆم | م | ش | ﭘآ مامﺗ | پم | پآ ،ﻢ | اﺗ ۔ | س ﺮک | ہن لﺻاح تاﺮمﺛ | تا ذج ت ثم | ||||||||||||||
۔ | ر با ما | م ﺮک ﻢ وک ناﺼقن | رذ | ںویس لا | ||||||||||||||||||||
۔اھﺗ ور 0.159 ہﯾ نارود | تدم | ا | لاس | ھچ | ہک ﺐج ار 0.055 ناﺼقن ﺺﺼح | ا | پم ،ح ط | ا |
ل ٹؤآ ا ل قﺘسم | ||||||||
ح | روا | ہ ر و | ﻢ ﺞــــردﺘب ح | ﯾاعر روا رز طاﺮفا ۔ | ہ ر ےد | اھکد راﺛآ | ی ہب م تﻻاح | اعم |
ا | دﺮکرا | ﭼا تہب | م ںوﻨیہم دﻨﭼ ہﺘشزگ ﺞﻨیچسک ا | اٹسا ناﺘس ا | ،ںآﺮب د م ۔ | ﻢ حﺘسم اﺘ س ہلدا م | ||
۔ ا ک هﺮ | اظم |
Half Yearly Report December 31, 2024 | 4 |
رآ | م تاجاﺮﺧا | فراﺻ ﺮﭘ زمٹئآ ڈوف ل ی س نان ،دوجوا | ی ہب ﺮﭘ روط | ومجم | م ںو راشا | اعم | |||||
روا سوج روا ت | ﻢ | ک س آ روا ں ش حور ت | ﮫﺗاس | زاغآ | یہم سدقم | ناضمر هام | ا ۔ | ||||
ﻊﻗوﺘم ہفاضا هاوﺧ ﺮطاﺧ | م گنام | کنرڈ ﭧفاس | |||||||||
فا عا | |||||||||||
لسﻠسم | زرڈلو ک | سا | و ب ﺮگ د روا تﻨحم روا ﻦ | ل | نا وک ہیماظﺘنا روا | مزﻼم | رام | ز ک | ئاڈ فآ ڈروب | ||
۔ | ہاﭼ انﺮک ف | عﺗ روا ف عﺗ | نا | ل ت امح | |||||||
بﻧاج ز | ک | ئاڈ فآ ڈروب |
وٹیک گ ا ف ﭼ | م یﭼ |
2025 یروﺮف 26 :خــــ راﺗ
یچارک
Half Yearly Report December 31, 2024 | 5 |
Half Yearly Report December 31, 2024 | 6 |
Half Yearly Report December 31, 2024 | 7 |
Half Yearly Report December 31, 2024 | 8 |
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |