Shareholding pattern
A major share of the company, about 44 percent is held by the directors, CEO, their spouses and minor children. Of this, 33 percent is held by Mr. Syed Shahid Ali, one of the directors of the company and also the CEO, while similar ownership is held by individuals. The rest of the ownership is divided between associated companies such as Loads Limited and other institutions and bodies.
Historical performance
Treet Corporation Limited's top-line is mostly dominated by local sales. Prior to FY15, Treet's top-line was growing at an average of 23 percent each year, after which its revenue fell in FY15 and picked up again although at a lower rate.
The last quarter of FY19 experienced difficult times for the economy and hence the manufacturing sectors. While a lot of the companies saw the aftermath of economic correction in the first quarter of FY20, Treet Corporation yielded relatively better results with top-line growing by 9.5 percent year on year and margins improving considerably. Currency depreciation may have also allowed for better exports while local sales had been increasing through the years.
============================================================== Treet Corporation Limited: Recent quarterly results ============================================================== Rs (mn) 1QFY20 1QFY19 YoY ============================================================== Net revenue- LHS 1,717 1,569 9.43% Cost of sales (947) (1,047) -9.55% Gross profit 770 522 47.51% Administrative expenses (97) (130) -25.38% Distribution expenses (198) (199) -0.50% Operating profit 475 193 146.11% Finance cost (286) (193) 48.19% Other operating expenses 0 0 Other operating income 9 16 -43.75% Workers' profit participation fu (9) (0) 8900.00% Workers' welfare fund (4) 0 Profit before taxation 185 16 1063.52% Taxation (46) 27 -270.37% Profit from continuing operation 139 43 224.01% EPS 0.84 0.27 ==============================================================
=================================================================== Treet Corporation Limited: Shareholding pattern as at June 30, 2019 =================================================================== Categories of shareholders % =================================================================== Directors, CEO, their spouse and minor children 43.87 Associated companies, undertakings and related part 5.28 NIT 9.36 Foreign Company 0.59 Banks, DFIs, insurance 2.63 Public sector 0.2 Joint stock and investment companies 3.61 Modaraba 0.11 Executive 0.16 Company secretary 0.01 Others 1.22 Individual 32.96 =================================================================== Total 100 ===================================================================
Source: Company accounts