SANE faces operational setbacks on banking disputes

News Image

By MG News | January 06, 2025 at 12:48 PM GMT+05:00

0:00

January 06, 2024 (MLN): Salman Noman Enterprises Ltd (PSX: SANE) is actively engaged in negotiations to resolve banking-related issues as ongoing legal disputes with the banking partners resulting in operational delays.

The aforementioned information was revealed by the company's quarterly Progress Report for the quarter ended December 2024, the company's filing on PSX revealed today.

"The market remains volatile, influenced by fluctuating economic indicators and changing consumer behavior", the report reads.

This instability has affected the company's operational capacity and financial planning, it added.

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

While the current landscape presents significant challenges, the management of the company is committed to overcoming these obstacles and restoring full operational capacity, the report further added.

SANE was incorporated in Pakistan on November 05,1985 as a Public Limited Company under the companies ordinance, 1984 (Now Companies Act, 2017).

The principal business of the company is to manufacturing and sale of yarn.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,288.40
250.12M
1.02%
1339.33
ALLSHR 82,953.38
624.85M
1.08%
884.12
KSE30 40,692.31
92.49M
0.75%
304.54
KMI30 192,060.81
110.20M
0.36%
683.98
KMIALLSHR 55,631.04
347.79M
0.79%
437.07
BKTi 36,530.38
27.95M
1.96%
702.13
OGTi 28,373.00
3.65M
-0.26%
-73.35
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,580.00 110,525.00
107,865.00
-835.00
-0.76%
BRENT CRUDE 68.36 68.43
67.22
0.06
0.09%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.90
3.07%
ROTTERDAM COAL MONTHLY 106.00 0.00
0.00
0.25
0.24%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.64 67.18
65.40
-0.36
-0.54%
SUGAR #11 WORLD 16.37 16.42
16.24
-0.01
-0.06%

Chart of the Day


Latest News
July 07, 2025 at 12:59 PM GMT+05:00

PACRA maintains the entity ratings of Liberty Mills Ltd


July 07, 2025 at 12:30 PM GMT+05:00

Pakistan sets 10-year AI vision in motion


July 07, 2025 at 11:47 AM GMT+05:00

Saudi Riyal available at PKR 76.4 in open market


July 07, 2025 at 11:24 AM GMT+05:00

Trump warns of 10% tariff on BRICS-aligned nations


July 07, 2025 at 11:00 AM GMT+05:00

LSE Capital declares offer to acquire stake in PGI



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg