Half Yearly

Unaudited Accounts

December 31, 2022

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Chairman's Review /

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Auditor's Review Report

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11-15

CDC Share Registrar Services Ltd.

CDC House, 99-B, Block B,

S.M.C.H.S, Main Shahrah-e-Faisal, Karachi.

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CHAIRMAN'S REVIEW / DIRECTORS' REPORT

Half Year Ended December 31, 2022 (Unaudited)

Dear Shareholders,

We bow our heads in gratitude to Allah the Beneficent, the Merciful, the Provider, for the Blessing He continues to bestow on us which are partly reflected in the Company's performance for the Half Year ended December 31, 2022.

With the devaluation of the rupee, all our input costs (Rice, Energy, Stores, Pay Roll) went up.

By the Grace of Allah, we were able to pass on to our Customers almost all the cost increases.

The result as you can see is a higher turnover for the period without a volume increase.

During the period, imported Soya Beans shipments were held up at the port, resulting in shortage of Soya Protein in the feed market.

This afforded us an opportunity to partially liquidate our long unsold protein inventory, resulting in an increased margin reflected in our bottom line for the period.

In closing:-Please join us in our prayers to Allah to Bless Pakistan in this Hour of need, with Bounties Beyond our wildest imagination and restore Pakistan with prosperity, dignity and respect as Befits His Glory Aameen.

We pray to Allah to Bless our operations with Bounties as Befits His Glory, Aameen.

On behalf of the Board,

OWAIS G. HABIB

GAFFAR A. HABIB

Chief Executive Officer

Chairman

Karachi: February 09, 2023

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Habib Rice Products Ltd. published this content on 28 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2023 09:44:01 UTC.