08
Mar
09:52
Pakistan's Siddiqsons raises sales, foresees profit pressure
Siddiqsons Tinplate (STPL) continues to focus on increasing local market share and exploring export markets, something that will be helped by the launch next year of its new cold rolling mill. However, the firm says increased interest rates and rupee devaluation will likely hamper its profitability.
STPL’s net sales surged 40% on-year in the second fiscal quarter through December 2018 to PKR 977.7 million ($7m) and net profit soared 85% to PKR 17.55m.…
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