Interviews
Spinning sector posts impressive surge in revenues
17 Nov '10
1 min read
An analysis of the first quarter results of fiscal 2010-11 of most of the publicly listed companies in the spinning sector in Pakistan reveals that revenues have jumped by 49 percent, from a year ago.
Revenues of these spinning mills which make up 88 percent of the listed companies rose steeply from Rs 19.5 billion to Rs 29.2 billion in the first quarter, which begins in July, up 49 percent.
Although all the other segments like weaving and composite have performed admirably, the spinning sector turned out the most impressive performance amongst all.
The main reason as divulged by experts was due to the rise in prices of yarn, following the hike in raw cotton prices. Gross margins of these sampled companies, too surged by 6.43 percent to 19 percent.
Revenues of these spinning mills which make up 88 percent of the listed companies rose steeply from Rs 19.5 billion to Rs 29.2 billion in the first quarter, which begins in July, up 49 percent.
Although all the other segments like weaving and composite have performed admirably, the spinning sector turned out the most impressive performance amongst all.
The main reason as divulged by experts was due to the rise in prices of yarn, following the hike in raw cotton prices. Gross margins of these sampled companies, too surged by 6.43 percent to 19 percent.
Fibre2fashion News Desk - India
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