Ex-Pack Corrugated Cartons Limited, has achieved a top line revenue of Rs3.46 billion, during the first half of FY 2021/22, ending September 3, 2021 against 2.065 billion during the same period in the previous year,recording a 59% increase, YOY.
The company turnover grew to Rs 2.32 billion, against Rs 1.46 billion the previous year. In terms of manufacturing volumes, Ex-Pack has achieved YoY growth of 17.4% during the 1st half, which is 7.7% above forecasts. The Company’s subsidiary, Neptune Papers (Private) Limited also posted volume growth of 13% for the same period under review.
Based on the first half results, Ex-Pack is on track to exceed its forecaster revenue of Rs 5.86 billion for the year. Given that the corrugated carton industry usually witnesses seasonal high demand during the second half of the year, the Company is confident that it will beat all
financial forecasts this financial year. During the first half of the year, PAT stood at Rs 200 million, against just 45 million during the same period in the previous year, during which performance was heavily impacted by the global pandemic. Earnings Per Share (EPS) for the first half stood at Rs 0.80.
Discussing Ex-Pack’s solid financials and sought-after IPO, Zulficar Ghouse, Managing Director said, “The numbers we are seeing are very encouraging. We have successfully managed to navigate one of the most turbulent times in global history, while still posting solid gains and
delivering exceptional value to our shareholders. We take this opportunity to renew our resolve to maintain our position as one of Sri Lanka’s leading end-to-end corrugated cartons and packaging solutions providers.”
Ex-Pack Group Chairman, Sattar Kassim further added, “We are optimistic about the future, and look forward to expanding our production capacity through our soon to be commissioned 3-billion-rupee manufacturing plant, which will up our monthly capacity from 2,750 metric tons to 4,000 metric tons by 2025. We also take this opportunity to thank all those who subscribed to our IPO, and announce that trading of Ex-Pack shares will commence on November 10. under the ticker symbol, PACK, on the Colombo Stock Exchange.” Ex-Pack’s product portfolio includes regular slotted cartons, die-cut cartons, laminated cartons and a host of specialized products developed using recycled material. The Company has designed and engineered many innovative, world class products, including lightweight cartons for fresh fish, and garment on hanger cartons, for high-quality apparel to be shipped upright, hung on clothes hangers.
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