Karachi, Lotte Chemicals Pakistan Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on February 10, 2023 at Karachi. The agenda of the meeting will to consider the Quarterly Accounts for the period ended December 31, 2022 for declaration of any entitlement has been rescheduled on December 31, 2022.
Lotte Chemical Pakistan Ltd is a supplier of purified terephthalic acid, an essential raw material used in the polyester industry. Lotte, the South Korean conglomerate, acquired the majority shareholdings in Pakistan PTA Limited (PPTA) in September 2009. Subsequently, the name of the Company was changed to Lotte Chemical Pakistan Ltd.
The plant at Port Qasim, Karachi was built in 1998. It produces Purified Terephthalic Acid (PTA), an essential raw material for Pakistan’s textile and PET packaging industries and forms the backbone of the polyester chain, including Polyester Staple Fibre, Filament Yarn and PET (bottle grade) resin.
The shares of the company are quoted on the Pakistan Stock Exchange Official Site with the total number of shares that are 1,514,207,200. The Earnings per share of the Company is 1.40 in 2020 which was 3.54 in 2019. Their Profit after tax was 2,125,105,000 in 2020 which was 5,360,370,000 in 2019.