Pakistan Textiles_Sector update Jan'18
Recent PBS data shows that the country's total exports during Jan'18 grew by 11%YoY to reach at US$1.97bn. Category wise, all the key segments witnessed an upward trend, with food exports registering double digit 29.6%YoY growth, while textile exports marginally growing by 2.1%YoY to US$1.08bn. In the textile group, value added exports continued to grow at a steady pace, with segment exports resting at US$821mn (+7.1%YoY), while low value added exports declined 11%YoY to US$265mn, as the domestic demand for cotton yarn picks up. On a MoM basis, both value and low value added exports went down 2.3%/9.3%MoM, likely on account of end of high demand Christmas season. On a cumulative basis, 7MFY18 textile exports now stand 6.8%YoY higher at US$7.72bn (vs. US$7.23bn in 7MFY17), with value added exports up by 9.7%YoY to US$5.66bn while low value added remained flat at US$2.06bn (-0.3%YoY). Looking ahead, we expect textile exports growth to average out at 7.5% in FY18F, where recent rupee depreciation (~5% in Dec'17) coupled with revised export package are expected to drive exports growth.
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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