Karachi November 1 2021: Image Pakistan Limited (IMAGE) has opened the outlet at Rawalpindi on 16th October, 2021 and Peshawar outlet is expected to be opened by mid November, 2021, as per information shared by the company.
Earlier the management, as envisaged in the Business Plan, finalized 3 outlets at Bank Road, Saddar, Rawalpindi Cantt; KPK Mall, University Road Peshawar and Emporium Mall, Lahore.
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The strong revenue growth continued and an increase of 94 percent was recorded during the quarter under review over the same quarter last year. Profitability of the company grew to PKR 40 million during first quarter of financial year 2021 from PKR 11.4 million the last year.
The Business Plan of Image is in under implementation with full swing and the company has established Letters of Credit for import of machinery.
The wholly owned subsidiary Image Tech Ltd., has started operations and all e-Commerce business is being done through it.
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Exports increased by 17.5% to US$2.471 billion in October 2021
The only cause of concern is the high level of inflation that is hitting the economy coupled with rampant devaluation of Pak Rupee versus US Dollar. We are continuing to add product categories in order to cater to a larger customer base to achieve higher sales and better returns. The preparation for Spring Summer 2022 season is in full swing and we hope to make the collection that will outperform the market competition.
