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Gul Ahmed reports surge in Q1 FY'14 sales
04
Dec '13
Strong domestic demand underpinned the robust revenue growth of Pakistan’s leading textile company, Gul Ahmed Textile Mills, in the first quarter ended September 30, 2013.
 
The textile giant, which is a household name in Pakistan, reported a 21 per cent rise in standalone net sales at Rs 7.05 billion in the three months ended September 30, 2013 from Rs 5.82 billion in the same period a year ago, underpinned by a surge in domestic sales and business-driven approach.
 
Domestic sales, which accounted for 36.5 per cent of total revenue, rose 40 per cent to Rs 2.57 billion in Q1 FY 2014 from the same period a year ago.
 
Local sales were driven by good customer response to the company’s designer lawn dresses as part of its summer collection.
 
Gul Ahmed, which has now emerged as a well-known global brand with presence in many countries, witnessed a 12.6 per cent rise in overseas sales to over Rs 4.48 billion in the three months ended September 30 2013 from Rs 3.98 billion in the same period a year ago, attributed partly to a weaker rupee.
 
While export sales to Germany, China and Russia recorded high growth last quarter, revenue from the UK and UAE declined. Foreign sales generally accounts for a major chunk of the Pakistani textile company’s revenue.
 
The company’s standalone net profit surged to Rs 155.57 million in Q1 FY 2014 from Rs 65.9 million in the year ago period.
 
Well known for its finest quality material, elegant and stylish styles the Gul Ahmed brand offers a vast range of fashion collection for every season, occasion and festival with its clothing line catering to women, men and kids.
 
The company will be banking on its recently introduced winter collection 2013-14 to continue the robust sales momentum this quarter.
 

Fibre2fashion News Desk - India

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