Azgard Nine Limited held its 26th Annual General Meeting on Monday, 28 October 2019, at 11.00 am at its registered office, Ismail Aiwan-i-Science, Lahore.
Shareholders confirmed the minutes of the extraordinary general meeting of 30 July 2019 and considered the audited financial statements for the year ended 30 June 2019. Net sales for that year rose 26 percent to Rs20.2 billion. The Board proposed re-appointing Deloitte Yousuf Adil as statutory auditors. On the same day, the company reported first-quarter results for FY2020, with sales up 18.9 percent and profit after tax of Rs130.8 million.
Key facts
- Meeting26th AGM, 28 October 2019, 11.00 am, Lahore
- FY2019 net salesRs20,215 million, up 26%
- Q1 FY2020sales up 18.9%; profit after tax Rs130.8 million
- Capacity use, FY2019denim 71%, garments 73%, open-end spinning 76%
Steady growth gives Azgard9 the base to keep investing in responsible denim for its global partners.
