JDMT halts production citing high costs, slowing sales

By MG News | Category Equity | October 31, 2024 at 03:20 PM GMT+05:00

0:00

October 31, 2024 (MLN): Janana De Malucho Textile Mills Limited (PSX: JDMT) has decided to temporarily halt production activities.

According to the company’s filing on the PSX today, the shutdown is due to prevailing economic conditions, including rising power costs, unavailability of quality cotton at affordable prices, declining sales, and the accumulation of finished goods stock due to a slowdown in the yarn market.

Therefore, the company has decided to temporarily shut down / close production activities for the time being.

"The management will continue to monitor the situation for future course of action and is committed to resume the production activities as soon as the situation improves," the notice concludes.

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