WHAT THE HELL
Mr. Kenichi Ayukawa, MD & CEO of Pak Suzuki Motor Company Limited, in his address to shareholders at 24th Annual General Meeting said that Pakistan automobile industry has become a major contributor to GDP. The industry for cars and light commercial vehicles witnessed a growth of 17% during the calendar year 2006. The industry produced 198,504 units during the year against 170,131 units last year.
He told that production at company’s plant increased by 32%. During the year 114,214 units were produced against 86,421 units last year. Sales volume increased by 30%. During the year 112,173 units were sold against 86,602 units last year. Company’s market share increased from 51% to 57%.
He informed that Prime Minister of Pakistan Mr. Shaukat Aziz inaugurated capacity expansion facilities at Pak Suzuki plant on 6th February, 2007. With this inauguration, the production capacity has increased to 150,000 vehicles per anum. Since 2003 capacity has increased by 200%. During this period the company invested Rs.4.5 billion on expansion, modernization, balancing of operations, introduction of new models and upgradation of existing models.
Shareholders vehemently approved the stock dividend proposed by Board of Directors.
Highlights of the accounts
2007
2006
(Rupees in Thousand)
Production Volume
114,214
86,421
Sales Volume
112,173
86,602
Net Sales
47,187,945
35,374,556
Gross Profit
5,560,733
3,572,956
Profit After Taxation
3,350,437
2,236,880