Pakistan Textiles: Healthy volumes, robust start FY14 Event· The strong momentum in textile exports witnessed in 4QFY13 continued in FY14 as Jul’13 exports broke the US$1.2bn level, highest since Jul’11, depicting 10.81% YoY growth in value terms. A significant shift in orders was seen from Bangladesh where workers’ strikes and rampages have resulted in month long strikes and closures. · We believe that strong volumes and weak rupee would reflect in the top line of textile companies during FY14, especially Nishat Mills. Strong top line growth; however, would not be carried down as significant increase in fuel and power expense may trim down the bottom line. We flag NML as our preferred pick.
Posted on: Fri, 23 Aug 2013 07:26:44 +0000
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