Al-Shaheer Corp records Rs41m loss

The meat retail and export company booked a consolidated loss of Rs41.02 million


Our Correspondent October 29, 2016

KARACHI: Al-Shaheer Corporation recorded a loss in the quarter ended September 2016 because of higher cost of doing business and lower turnover and other income.

The meat retail and export company booked a consolidated loss of Rs41.02 million in the Jul-Sept quarter against a profit of Rs75.28 million in the same quarter last year, according to a bourse filing on Friday.

This translated into loss per share of Rs0.29 in Jul-Sept 2016 compared to earnings per share of Rs0.59 in the corresponding period of previous year. Its share price fell 4.08%, or Rs2.04, and closed at Rs47.87 with a volume of 3.14 million shares at the Pakistan Stock Exchange.

Turnover fell 21% to Rs1.53 billion in Jul-Sept 2016 from Rs1.93 billion in the corresponding quarter of previous year. Other income dropped to Rs1.27 million from Rs43.79 million.

Published in The Express Tribune, October 29th, 2016.

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