• Sales up 50%
  • First-half profits more than double
  • Pakistan clothing exports up a quarter

Pakistan’s Nishat Mills has reported higher sales and profits during first half of the year, boosted by increased shipments to the EU and US markets and higher unit values.

The company's board of directors announced that the sales of the company increased by 50% to PKR21.34b (US$250m), while profit before tax jumped 105% to PKR2.35b (US$27.5m), both compared to the same period last year.

Textile mills in Pakistan recoded phenomenal growth in the first half, with Gul Ahmed Textile announcing pre-tax profits of PKR588m, Mehmood Textile PKR491m, Bhanero Textile PKR392m, Fazal Textile PKR371m, Kohinoor Textile PKR128m, Glamour Textile PKR96m, Quality Textile PKR52m, Allawasaya Textile PKR23m and Aruj Garments PKR8.4m during the period.

Textile and clothing exports from the country increased by 26% to US$7.45bn during the first seven months of current fiscal year.

Gohar Ejaz, chairman of the All Pakistan Textile Mills Association (APTMA), told just-style that the president of Pakistan has declared 2011 as the “Year of Textile” and said textile and clothing exports would reach the US$14bn mark by the end of the fiscal year.