Security Papers Limited

September 25, 2024

Security Papers Limited (SPL) held its 59^th Annual General Meeting (AGM) at its head office, where shareholders approved the annual audited financial statements for the year ended June 30, 2024.

Mohammad Aftab Manzoor, Chairman of the Board, chaired the meeting, which was attended by other members of the Board of Directors and Senior Management.

During the AGM, shareholders reviewed and approved the Company’s impressive financial performance, marked by a 55% increase in profit before tax to PKR 2,392 million and a record sales revenue of PKR 7,312 million. Notably, the profit after tax stood at PKR 1,489 million in 2024, representing 54% increase from last year.

The shareholders also approved the highest-ever dividend of PKR 12.50 per share, representing 125%. This includes an interim cash dividend already paid at the rate of PKR 2.50 per share, and a final cash dividend of PKR 10.00 per share.

The shareholders expressed satisfaction with the Company’s performance and appreciated the management’s efforts in achieving remarkable growth despite challenging economic conditions. SPL’s focus on innovation, sustainability, and social responsibility has enabled the company to navigate challenging business environments and capitalize on emerging opportunities, reaffirming its position as Pakistan’s leading manufacturer of security papers.