May 6, 2021 (MLN): Image Pakistan Limited (IMAGE) formerly known as Tri-Star Polyester Ltd has said that the unusual movement in the price and traded volume of the company could be a result of growth and progress in the company’s business.
In a notification to Exchange, the company informed that it has been regularly disclosing and disseminating developments in the company’s business through the issuance of Director’s Report with periodic accounts and announcements of material info.
In its half-yearly accounts for the period ended December 2020, the company stated that its online sales continued to be the fastest-growing channel and the management is confident to achieve a growth of 150% in sales from last year.
The company in its Director’s report annexed to the quarterly accounts for the period ended March 2021, stated that in order to capitalize on the growth potential in terms of both sale volume and brand value as well as ensure the sustainability of the growth in business, the Company was planned to go into a phase-wise expansion by adding new machinery as well as diversifying by adding Perfume and Halal Cosmetics lines of businesses.
Furthermore, the company also informed about the opening of an outlet in Islamabad which received tremendous response, and the management was poised to achieve a growth of 150% in sales from last year.
In view of the above, the increase in price and volume of traded security may be a result of growth and progress in the company’s business, the notice said.
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