Pakistan Sugar: Pakistan Listed Sugar Sector record profitability - Sales grew 29%; Net Profit up 78% in FY23 – By Topline Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Pakistan listed sugar sector&rsquo;s earnings were up 78% YoY to record high of Rs22bn in FY23 (Oct-2022 to Sep-2023). This increase is attributed to rise in sugar prices that led to higher gross margins.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Ethanol, which is a by-product of sugar, also experienced improved performance in FY23 due to favorable Ethanol selling prices in the international market along with devaluation of the Rupee against the US dollar.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Net sales of the sector jumped 29% YoY to Rs304bn in FY23 due to the export of 249k tons and 28% increase in average domestic prices in FY23.</...