Karachi November 4 2022: Al Shaheer Corporation Limited reported loss of PKR 235 million in fiscal year 2022 against profitability of PKR 113 million last year, according to company filing to the exchange.
Company reported exchange gain of approximately PKR 570 million during the year.
In this fiscal year, the company’s turnover has increased by 12.5% as compared to the last year. The main reason for increase in the revenue generated from the new frozen food business which was launched during the second quarter of the current fiscal year and secondly due to the strong growth in institutional sales business.
The Company reported a loss which is mainly due to the launch of new frozen food business during the current year. The old business of the company has shown a sober growth during the current period, however the frozen food business being in the initial phases of its business cycle has shown operational losses.
About the Company
Al Shaheer Corporation Limited was incorporated on June 30, 2012 under the repealed Companies Ordinance, 1984. The Company is engaged in trading of different kinds of halal meat including goat, cow, chicken and fish, both for export market and local sales through chain of retail stores.
