Financial results of Hala Enterprises Limited for period ended March 31, 2016

Karachi, Hala Enterprises Limited informed Pakistan Stock Exchange about recommendations made by the board of directors in the meeting held at Lahore on April 29, 2016.

The agenda of the meeting was discussion of profit and loss accounts for nine months period and quarter ended March 31, 2016 which portrayed a loss of Rs. 6,911,985 and Rs. 1,153,477 with loss per share 1.02 and 0.17 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Since 1974, Hala Enterprises Limited has been one of the leading innovators and market trend setters in the towel industry of the region. The company’s core business activity is centered on towel and other terry products manufacturing in the Lahore district of Pakistan. The entire manufacturing is based on custom-made items for specific clientele for export purposes. While exports are world-wide, the concentration of sales is within Europe – aimed at both the institutional and the retail sector. Hala is a completely integrated towel manufacturing unit with all facilities in-house. The total manufacturing capacity is approximately 1500 tons annually – due to which the company is able to exercise astonishing levels of flexibility when it comes to query-based orders.

The symbol “HAEL” is being used by the stock exchanges for the shares of Hala Enterprises Limited.