Matco Foods Limited reported loss per share of PKR 2.33 in FY24 against earnings per share of PKR 4.57 in FY23. Total revenue in FY24 reached PKR 27.7 Bn against PKR 20 Bn in FY23, an increase of 38%.
The company saw its gross margin drop from 12% in FY23 to 11% in FY24. The company successfully commissioned a 1.5 MW solar plant at its corn starch facility during the year.
With regards to finance costs the management expects export refinance costs to be 12.5% in FY25 down from 17.82% in FY24. Similarly, own source financing is expected to cost 15.5% in FY25 down from 21.85% in FY24. The Falak Foods division recorded revenue of PKR 410 Mn in FY24, up 2% compared to PKR 402 Mn in FY23.
The gross margin for this division is about 30-35%. Sales for this segment make up less than 5% of the company’s revenue. Going forward, management expects improved profitability due to reduced finance costs.
Important Disclosures
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