Pakistan Textiles: Sector update May'18
Pakistan's total exports continue to exhibit remarkable performance, with May'18 exports reaching US$2.14bn, up 32.3%YoY. Once again, both food and textile groups were key outperformers, with respective group exports growing by 44.5%YoY/28.4%YoY. In textile group, both value and low value added exports jumped 28%/29.7%YoY to reach at US$878mn/US$327mn. On a cumulative basis, 11MFY18 textile exports now stand 9.8%YoY higher at US$12.36bn (vs. US$11.23bn in 11MFY17), with value added exports up by 11.3%YoY to US$8.98bn while low value added exports which remained largely sanguine in the first half strongly recovered in second half, with segment exports reaching US$3.35bn (up 6%YoY) in 11MFY18. Looking ahead, we expect textile exports to maintain their upward trend, as sector would continue to benefit from strengthening economic activity in key export markets, flexible exchange rate regime and continued gov't support in the form of export incentives. However, prolonged delay in payment of exporters' refunds could undermine utility of export package, thus posing downside risk to export outlook.
Nishat Mills is engaged in the business of textile manufacturing and of spinning, combing, weaving, bleaching, dyeing, printing, stitching, buying, selling and otherwise dealing in yarn, linen, cloth and other goods and fabrics made from raw cotton, synthetic fiber and cloth, and to generate, accumulated, distribute and supply electricity.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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