Textiles division sales prop up Archroma Pakistan
20/12/2023
It said it maximised engagement with its customers to increase its market share to achieve record net sales of PKR 30,013 million in the 12 months to 30 September 2023 versus PKR 25,154 million last year.
This increase in sales of 19% was mainly contributed by Textile Effects, whose sales increased by 17%, and the Paper, Packaging & Coatings business, whose turnover increased by 40%.
Gross margins for all business segments remained under pressure, mainly due to the severe devaluation of PKR versus the US dollar and other foreign currencies and the consequential increase in raw materials import costs.
Higher borrowing costs, foreign exchange losses and increases in taxation rates further dented the bottom-line profitability to PKR 1,244 million against PKR 1,885 million last year.
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