Habib Sugar Mills will invest up to Rs 120 million (maximum up to 17.5 percent) in ordinary shares of Uni-Food Industries, a public unlisted company, in tranches. The board of directors of the company has given approval for this investment in its meeting held here. The core business of the Uni-Food Industries is manufacturing and marketing of bakery and allied products.
The board also approved the audited financial statement of the company for the year ended September 30, 2016 and recommended a final cash dividend for the year at Rs 2.75 per share, ie, 55 percent. According to the financial statement, the company's profit after tax increased to Rs 824.962 million in the year ended September 30, 2016 against Rs 815.230 million earned in the corresponding period last year. The company's earning per share rose to Rs 5.50 against Rs 5.43.
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