Loads’ profit increases 69% in FY17

Published: September 26, 2017
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A car manufacturering plant. PHOTO: REUTERS

A car manufacturering plant. PHOTO: REUTERS

KARACHI: Loads Limited, an automotive parts manufacturer, has posted a consolidated profit of Rs306 million in fiscal year 2016-17, an increase of 69% compared with Rs181 million in the preceding year, according to a company notice sent to the Pakistan Stock Exchange (PSX).

Earnings per share (EPS) increased to Rs2.54 compared with a restated Rs2.19 in the previous year. The company announced a final cash dividend of 10% or Rs1 per share and 10% bonus shares along with the results.

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The KSE-100 index closed at 42,743, down 6 points or 0.02% on the first trading day of the week with the share price of Loads closing at Rs39.25, up 3.5%.

Loads Limited, which was the last listing on PSX in 2016, makes radiators, exhaust systems, mufflers, sheet metal components among other parts, and its clients include more than a dozen national and multinational companies engaged in the production of motorcycles, cars and heavy vehicles manufacturers.

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After a long period of subdued growth – owing to a number of factors including the flood of imported vehicles – the auto-part making industry is gearing up for increased sales, the statement added.

Its focus will now move from just motorcycles and tractors to manufacturing heavy vehicles and passenger cars as well.

Published in The Express Tribune, September 26th, 2017.

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