Security Papers Limited posts 54pc increase in annual profits

KARACHI: Security Papers Limited (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.

Chairman of the Board Mohammad Aftab Manzoor chaired the meeting, which was attend by directors and senior management.During the AGM, shareholders reviewed and approved the company’s financial performance, marked by a 55 per cent increase in profit before tax to Rs2.39 billion and a record sales revenue of Rs7.31 billion. The profit after tax stood at Rs1.49 billion in 2024, representing a 54 per cent increase from last year.

The shareholders also approved the highest-ever dividend of Rs12.5 per share. This includes an interim cash dividend already paid at Rs2.5 per share, and a final cash dividend of Rs10 per share.

According to a press release, the shareholders expressed satisfaction with the company’s performance and appreciated the management’s efforts in achieving remarkable growth despite challenging economic conditions.

SPL’s focus on innovation, sustainability and social responsibility has enabled the company to navigate challenging business environments and capitalize on emerging opportunities, reaffirming its position as Pakistan’s leading manufacturer of security papers.