Security Paper Limited (PSX: SEPL) released its financial statement for the first six months of the fiscal year ending December 31, 2023, announcing a profit of Rs 746 million (EPS Rs 12.59) showing a significant increase of 122% compared to the profit of Rs 336 million (EPS Rs 5.67) reported in the Same Period Last year (SPLY).
Going by the results, the Security Papers Limited’s (SPL) top line increased by 38% to Rs 3.49 billion as compared to Rs 2.53 billion in SPLY. The Company’s cost of sales rose by 26% to Rs 2.51 billion vs SPLY. However, due to a higher increase in sales, the gross profit improved substantially by 82% to Rs 976 million.
Expressing his delight on the results, SPL Chairman Mohammad Aftab Manzoor expressed that Security Papers strategic focus on increasing sales via diversifying its customer base, focus on operational costs and positive outcome of a number of reforms introduced in the Company has yielded superb financial performance.
“Our strategic vision and relentless focus on new initiatives and diversification has more than doubled the EPS of the Company.
