Ibrahim Fibres Annual report published for year ended June 30th, 2008

During the year under review, Ibrahim Fibres achieved sales of Rupees 21,550 million as against sales of Rupees 16,323 million during the previous year. The gross profit earned during the year is Rupees 2,187 million as against Rupees 1,631 million during the previous year thus increasing the gross profit by 34% over the previous year. This increase in gross profit was mainly due to higher volume of sales/production.

The proportionate share of Ibrahim Fibres in profits of its associated company, Allied Bank Limited, amounted to Rupees 1,291 million for the year under review as against Rupees 1,480 million for the previous year. The book value of investment in the bank was Rupees 45.61 per share as on June 30, 2008 as against market value of Rupees 85.27 per share prevailing on the same date.

Ibrahim Fibres (Textile Division) is setting benchmark in producing best quality PV, PC & VISCOSE Products by deploying latest technologies

In the pursuit of excellence in production operations, management of Ibrahim Fibres Limited decided to replace the machinery of one of the Textile Plants. In this regard, the ring spinning and cone winding equipment has been replaced with the most modern technology imported from Zinser and Schlafhorst, Germany which are the leading textile machinery suppliers of the world.