Kohat Cement board approves Rs600m investment renewal in Ultra Kraft

MG News | September 05, 2024 at 03:35 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

September 05, 2024 (MLN): The Board of Directors of Kohat Cement Company Limited (PSX: KOHC) has approved the renewal of an investment through a mark-up bearing, short-term running finance of up to Rs600 million in Ultra Kraft (Private) Limited (UKPL), an associated company.

Additionally, the board has recommended that the company's members approve the purchase or buy-back of up to 12 million of its own issued ordinary shares, to be funded from the company’s distributable profits or reserves.

The company disclosed price-sensitive information regarding its financial results today.

Notably, KOHC recorded a remarkable growth of 420.4% in its profitability during the quarter ending June 2024 compared to last year despite a decline in sales revenue.

The increase was largely led by an improvement in gross margins, a surge in its other income, and a significantly lower tax rate.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,498.84 185.04M	-0.57% -952.30
ALLSHR	100,481.40 703.99M	-0.51% -519.61
KSE30	49,764.01 68.59M	-0.64% -319.08
KMI30	240,340.56 94.21M	-0.36% -880.32
KMIALLSHR	65,599.63 389.80M	-0.33% -217.28
BKTi	45,136.63 31.52M	-1.09% -499.60
OGTi	35,252.30 4.64M	-0.58% -205.48

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,420.00	81,895.00 80,865.00	-200.00 -0.25%
BRENT CRUDE	107.06	107.49 106.26	1.34 1.27%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-6.70 -5.74%
ROTTERDAM COAL MONTHLY	108.25	108.25 107.25	0.00 0.00%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	98.36	98.73 97.23	-2.81 -2.78%
SUGAR #11 WORLD	15.00	15.42 14.92	-0.38 -2.47%