Karachi June 11 2021: Through notice at PSX, Unity Foods declared that it has completed the transaction of Sunridge Foods (Pvt.) Limited acquisition. Now Unity Foods Limited own 100% of Sunridge Foods (Pvt.) Limited.
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Unity Foods (Pvt.) Limited has rallied 289.4 percent on Year on Year basis and 55.7 percent from January to date.
Sunridge Foods (Pvt.) Limited is a floor premium brand selling under brands of Sunridge High Fiber, Sunridge Super Fine, Sunridge Fortified Chakki Atta, Sunridge White Chakki Atta and Sunridge Fortified Maida.
Sunridge Foods (Pvt.) Limited flour brand “Sunridge” continues to establish itself as a premium brand in its category in the market. Consumer acceptance has been above company’s expectations, which is evident from the fact that segment topline sales of PKR1,599 million for the 3rd quarter are higher than the total sales of PKR655 million in the second quarter of the year. This is a phenomenal over 244% QoQ increase.
Unity Foods Limited (“the Company”) was incorporated in Pakistan in 1991 as a Private Limited Company under the Companies Ordinance, 1984 (now the Companies Act, 2017) and subsequently converted into a Public Limited Company on June 16, 1991. Shares of the Company are listed in Pakistan Stock Exchange since February 01, 1994. The principal business activity of the Company has been changed from yarn manufacturing to edible oil extraction, refining and related businesses.