Financial results of Globe Textile Mills Limited for Quarter ended June 30, 2019.

Karachi -- Globe Textile Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 30, 2019.

The agenda of the meeting was discussion of profit and loss account for quarter ended June 30, 2019 which portrayed a loss of Rs. 246 with loss per share 0.00 basic and diluted respectively.

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

The announcement is available at:

https://dps.psx.com.pk/download/document/135400.pdf

A spinning unit in the name of Globe Textile Mills Limited was established in the year 1969 which started production in the year 1970. The capacity of the unit was 25,200 spindles with complete Back Process and Murata Winders.

The unit was updated in the late 1980's and an extensive programme of balancing, modernisation, and replacement was carried out at a huge capital investment. Blow Room, card and Drawing...