May 19, 2022 (MLN): Image Pakistan Limited has informed on Thursday that its latest Schiffli embroidery machine has started commercial production from April 18, 2022.
According to the notice issued by PSX, the existing Lässer Schiffli embroidery machine has been upgraded and its performance is now at par with the new machine.
In order to cater to the increasing demand of Islamabad customers, it has been decided to open a 2nd outlet in Islamabad at Centaurus Mall. The Company plans to open the outlet before the end of the financial year on June 30, 2022.
The company, through its newly incorporated subsidiary company namely, Tri-Star Image (USA) Inc. has now started scaling business on Amazon by operating the FBA model in the USA.
During the period July 2021 to March 2022, the company has managed to generate consolidated sales revenue of more than Rs1.286 billion.
With the full-fledged operation of new Schiffli and multi-head embroidery machines coupled with existing machines, the company is on the path in achieving its projected sales revenue target of Rs.1.8 billion by the end of the financial year in June 2022.
The start of the Spring / Summer Season from mid-March 2022 has helped achieve revenue growth and the company’s famous/renowned un-stitched Lawnkari and the ready-to-wear collection have outperformed the market with its unique designs made with the latest technology and excellent styling, it said.
Image Pakistan Limited has successfully and prudently utilized the funds through the Right Issue of shares and has made significant investments in its property, plant and equipment, and working capital requirement.
Based on performance to date and projections, it is expected that the company will be able to further raise its sales revenue and generate sufficient cash flow in the coming future, it added.
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