Salman Noman Enterprises continues to explore revival options

By MG News | Category Equity | October 02, 2024 at 01:50 PM GMT+05:00

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October 02, 2024 (MLN): Salman Noman Enterprises (PSX: SANE), following the closure of its operations, is actively pursuing different options for the revival of the company, a progress report of the company for Q3CY24 revealed on Wednesday.

The company's ongoing legal disputes with its banking partners have created significant operational delays.

Additionally, Salman Noman attributed its non-operational status to the volatility in the market, influenced by fluctuating economic indicators and changing consumer behavior.

The broader economic landscape continues to pose challenges, with inflationary pressures and reduced consumer spending impacting our revenue streams, it said.

The company further said that while the current landscape presents significant challenges, the management team remains committed to overcoming these obstacles and restoring full operational capacity.

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