Quice Food Industries Limited (QUICE) reported loss per share of PKR 0.28 for FY24, compared to loss per share of PKR 0.13 in FY23. Furthermore, in 3QFY25, the company reported EPS of PKR 0.13, compared to PKR 0.23 in the same period last year (SPLY). In 2024, the company’s export sales contributed 67% of its total revenue, with key markets including the US, UK, and the Middle East.
However, local sales were negatively impacted by sales taxes and a federal excise duty that were implemented in mid-Nov 23. The company’s profitability has also been adversely affected by several factors. The escalated costs of utilities and ocean freight are now significantly impacting their bottom line.
Furthermore, while the company previously procured sugar at opportune prices, the current cost of sugar has also escalated. According to management, the decline in syrup sales is attributable to Ramadan occurring in the winter season. They also reported that the profit margins on their tetra-packed products are quite thin.
Important Disclosures
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