1. Homepage
  2. Equities
  3. Pakistan
  4. The Pakistan Stock Exchange
  5. Packages Limited
  6. News
  7. Summary
    PKGS   PK0010001011

PACKAGES LIMITED

(PKGS)
  Report
End-of-day quote The Pakistan Stock Exchange  -  2022-06-23
395.35 PKR   -1.13%
06/24PACKAGES : Disclosure of Price Sensitive Information - Investment in Sanofi - Aventis Pakistan
PU
05/30PACKAGES : True copy of Resolution(s) Passed and Adopted at the Extra Ordinary General Meeting - PKGS
PU
04/30Packages Limited Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Packages : Financial Results for the Quarter Ended 31 March 2022

04/28/2022 | 01:07am EDT

FORM -7

Sec/56/PKGS

April 28, 2022

The General Manager

Pakistan Stock Exchange Limited Stock Exchange Building

Stock Exchange Road Karachi

SUB: FINANCIAL RESULTS FOR THE QUARTER ENDED 31 MARCH 2022

Dear Sir,

We are pleased to inform you that the Board of Directors of Packages Limited ("the Company") in its meeting held on Wednesday, 27 April 2022 at 11:00 a.m. at Registered Office of the Company situated at 4th Floor, The Forum, Suite No. 416-422, G-20, Block 9, Khayaban-e-Jami, Clifton, Karachi and via Zoom has approved the condensed interim standalone and consolidated financial statements (unaudited) of the Company for the quarter and three months period ended 31 March 2022 and recommended the following:

(i)

CASH DIVIDEND:

NIL

(ii)

BONUS SHARES:

NIL

(iii)

RIGHT SHARES:

NIL

(iv)

ANY OTHER ENTITLEMENT/CORPORATE ACTION:

NIL

(v)

ANY OTHER PRICE SENSITIVE INFORMATION:

Please refer below

The financial results of the Company for the captioned quarter are enclosed as Annexure-'A' (Unconsolidated) and Annexure 'B' (Consolidated).

Material Information

In accordance with Section 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book issued by the Pakistan Stock Exchange Limited, we hereby convey that the Board of Directors of the Company in the aforementioned meeting has accorded its approval for:

  • a) Proposed investment in Sanofi-Aventis Pakistan Limited (Annexure - 'C')

  • b) Incorporation of a wholly owned foreign subsidiary in the UAE (Annexure - 'D')

  • c) Capital injection in StarchPack (Private) Limited (Annexure - 'E')

The quarterly report of the Company for the quarter ended 31 March 2022 will be transmitted through PUCARS separately, within the specified time and shall also be made available on Company's website www.packages.com.pk

Yours sincerely,

For Packages Limited

Iqra Sajjad Company Secretary

Encl: as above

CC:

Director

Company Law Division Securities and Exchange Commission of Pakistan NIC Building, Jinnah Avenue Blue Area, IslamabadExecutive Director/HOD Offsite-II Department Supervision Division Securities & Exchange Commission of Pakistan

63, NIC Building, Jinnah Avenue Blue Area

Islamabad

Director

Enforcement Department Securities and Exchange Commission of Pakistan NIC Building, Jinnah Avenue Blue Area, Islamabad

Director

Securities Market Division Securities and Exchange Commission of Pakistan NIC Building, Jinnah Avenue Blue Area, Islamabad

PACKAGES LIMITED

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF PROFIT OR LOSS (UN-AUDITED)

For the three-months period ended March 31, 2022

Annexure -'A'

Annexure - A

Three months ended

March 31,

March 31,

2022

2021

Un-audited

Un-audited

(Rupees in thousand)

Dividend income

875,717

782,429

Rental income

110,925

97,662

Operating revenue

986,642

880,091

Administrative expenses

(160,901)

(131,809)

Net (impairment) / reversal of impairment on financial assets

(1,771)

2,129

Other expenses

(769)

(28,195)

Other income

43,038

37,190

Operating profit

866,239

759,406

Finance cost

(152,667)

(38,367)

Profit before taxation

713,572

721,039

Taxation

(31,000)

(24,513)

Profit for the period

682,572

696,526

Earnings per share

7.64

7.79

7.28

7.42

Basic Diluted

Rupees Rupees

PACKAGES LIMITED AND ITS SUBSIDIARIES

Annexure -'B'

Annexure - B

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UN-AUDITED)

For the three-months period ended March 31, 2022

Three month periTohdrened-medonth period endedMarch 31, 2022

March 31, 2021

(Rupees in thousand)

Revenue

26,915,391

19,676,647

Cost of sales and services

(21,231,585)

(15,421,447)

Gross profit

5,683,806

4,255,200

Administrative expenses

(810,668)

(649,046)

Distribution and marketing costs

(1,049,750)

(780,848)

(Impairment losses) / reversal of impairment losses

on financial assets

(15,249)

1,828

Other expenses

(341,020)

(8,747)

Other income

158,454

85,939

Share of net profit of associates and joint ventures

accounted for using equity method

36,388

21,080

Profit from operations

3,661,961

2,925,406

Finance costs

(1,060,663)

(645,050)

Gains and losses relating to business combination

1,993,632

-

Profit before taxation

4,594,930

2,280,356

Taxation

(751,902)

(557,353)

Profit for the period

3,843,028

1,723,003

Profit attributable to:

Equity holders of the Parent Company

3,670,165

1,643,769

Non-controlling interests

172,863

79,234

3,843,028

1,723,003

Earnings per share attributable to equity holders

of the Parent Company during the period

41.06

18.39

38.01

17.24

Basic Diluted

Rupees Rupees

Annexure - 'C'

DISCLOSURE FORM

INTERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015

Name of Company

Packages Limited

Date of Report

28 April 2022

Name of Company as specified in the

Packages Limited

Memorandum

Company's Registered Office

4th Floor, The Forum

Suite # 416-422, G-20, Block 9

Khayaban-e-Jami, Clifton

Karachi-75600

Contact Information

Tel: (021) 35860252

Disclosure of material information by listed company in terms of Section 96 and 131:

Proposed Investment in Sanofi-Aventis Pakistan Limited (Sanofi Pakistan)

This is in continuation of our earlier letter SEC/169/2021 dated December 20, 2021 in which the Board of Directors of Packages Limited (the Company) accorded its in-principle approval to become part of the Investor Consortium to evaluate and conduct a due diligence for a potential transaction for the purchase of entire 52.87% shareholding of Sanofi Foreign Participants B.V. held in Sanofi Pakistan (Proposed Transaction). The Investor Consortium is comprised of the Company, IGI Investments (Private) Limited and affiliates of Arshad Ali Gohar Group. The Investor Consortium is led by the Company.

In this regard, please note that the Investor Consortium has finalized the purchase price and terms and conditions of the Proposed Transaction with Sanofi Foreign Participants B.V. upon conclusion of the due diligence process as approved by the Board of Directors of the Company in its meeting held on April 27, 2022. The negotiated purchase price for the Proposed Transaction is Rs. 940/share (excluding transaction costs) and the Company will be acquiring 35% of equity stake in Sanofi Pakistan. The remaining shareholding i.e. 17.87% (Remaining Shareholding) will be taken by other members of the Investor Consortium. The Company shall also be committed to purchase Remaining Shareholding to the extent not taken-up by any other member of the Investor Consortium along with such shares as may be offered under the mandatory public offer in terms of applicable take-over laws.

The Proposed Transaction shall be executed subject to signing of transaction documents between the parties including Share Purchase Agreement and fulfillment of applicable contractual and legal conditions (including for investment in associated companies or associated undertaking and related take-over laws) and applicable corporate and regulatory approvals.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Packages Ltd. published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 05:03:08 UTC.


© Publicnow 2022
All news about PACKAGES LIMITED
06/24PACKAGES : Disclosure of Price Sensitive Information - Investment in Sanofi - Aventis Paki..
PU
05/30PACKAGES : True copy of Resolution(s) Passed and Adopted at the Extra Ordinary General Mee..
PU
04/30Packages Limited Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
04/28PACKAGES : Financial Results for the Quarter Ended 31 March 2022
PU
04/19PACKAGES : Board Meeting and Announcement of Closed Period for the Quarter Ended 31 March ..
PU
04/12Packages Limited Reports Earnings Results for the Full Year Ended December 31, 2021
CI
04/08PACKAGES : Transmission of Annual Report for the Year Ended 31 December 2021
PU
04/08PACKAGES : Notice of Annual General Meeting (Post Publication)
PU
04/07PACKAGES : Notice of Annual General Meeting (Pre-Publication)
PU
03/29PACKAGES : Financial Results for Year Ended 31 December 2021
PU
More news
Financials
Sales 2022 111 B 536 M 536 M
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 35 336 M 170 M 170 M
Capi. / Sales 2022 0,32x
Capi. / Sales 2023 0,30x
Nbr of Employees -
Free-Float 46,5%
Chart PACKAGES LIMITED
Duration : Period :
Packages Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PACKAGES LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 395,35
Average target price
Spread / Average Target -
Managers and Directors
Syed Hyder Ali Chief Executive Officer, MD & Executive Director
Khurram Raza Bakhtayari Chief Financial Officer
Towfiq Habib Chinoy Chairman
Sajjad Iftikhar Chief Investment Officer
Hasan Askari Independent Director
Sector and Competitors
1st jan.Capi. (M$)
PACKAGES LIMITED-20.50%170
INTERNATIONAL PAPER COMPANY-12.47%15 878
PACKAGING CORPORATION OF AMERICA-0.26%13 060
WESTROCK COMPANY-8.39%10 357
SIG GROUP AG-15.55%9 369
SMURFIT KAPPA GROUP PLC-32.08%8 962