December 30, 2021 (MLN): The shareholders of Archoma Pakistan Limited have approved a cash dividend at the rate of 900% (Rs90 per share) of Rs3,071 million on the paid-up capital as recommended by the directors, the company’s filing on bourse showed today.
The cash dividend will be paid to the shareholders whose names appear on the register of members of the company on December 22, 2021, the notice said.
ARPL is primarily engaged in the manufacturing, sales and indenting business of speciality chemicals includingdyestuffs and coating, adhesives and sealants. Meanwhile, home care and household industrial and institutional cleaningchemicals are the latest additions to the diversified product portfolio.
As per the latest financial results, the company achieved net sales of Rs19.87 billion during the financial year ended September 2021 against Rs15 billion last year. The growth in sales contributed to strong bottom-line profitability of Rs2.3 billion versus Rs1.17 billion in comparison to last year.
In the recent corporate briefing session with investors, the management said that ARPL’s local and export demand for home textiles and denim and casual wear will stay strong during the next fiscal year on the back of rising export orders for Pakistan’s textile sector.
