Financial results of Ferozsons Laboratories Limited for period ended June 30, 2016
Karachi, Ferozsons Laboratories Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on August 29, 2016.
The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2016 which portrayed a profit of Rs. 2,233,088,262 with earnings per share 69.72 basic and diluted.
Further, Rs. 12 per share i.e. 120% payment of cash dividend, nil bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from October 11, 2016 to October 20, 2016 (both days inclusive).
The Corporate History of the Ferozsons Group began in 1894, when its Founder Maulvi Ferozuddin Khan established the Ferozsons publishing house. From the outset, their founder’s corporate vision involved playing a meaningful role in the education and health of the underprivileged population of the sub-continent.
Consequently, Ferozsons Laboratories Limited was created in 1954 as one of the first pharmaceutical manufacturing facilities in the fledgling state of Pakistan. The company commenced operations in 1956, and in 1960 became the first Pakistani pharmaceutical company to be listed on the Pakistan Stock Exchange.
They have a consistent track record of financial performance, and are 6-time recipient of the Karachi Stock Exchange’s ‘KSE Top 25 Companies Award’.
Through their range of branded generics and in-licensed products, they have attained market leadership in the areas of cardiology, oncology, gastroenterology, dermatology and anti-infective markets in the Pakistan. These products are now being exported to markets in Asia and Africa, and they are actively seeking export opportunities in other markets.
Ferozsons is the Pakistan marketing and distribution partner for the Boston Scientific Corporation, USA for its range of cardiac and peripheral products and interventional devices. This partnership will allow us to further strengthen their channels in cardiology, oncology, and G.I. fields.
The symbol “FEROZ” is being used by the stock exchanges for the shares of Ferozsons Laboratories Limited.