LAHORE: United Brands Limited is entering the business of warehousing and transportation under a newly 100 percent owned subsidiary IBL Logistics Private Limited.
In a notification sent to the Pakistan Stock Exchange (PSX), United Brands Limited said its wholly-owned subsidiary IBL Logistics Private Limited had obtained a contract from one of the major beverages company of Pakistan.
According to United Brands, this contract will allow its subsidiary IBL Logistics Private Limited to earn a revenue of Rs25 million per month.
United Brands Limited trades in and distributes consumer goods and allied products in Pakistan. It distributes fast moving consumer goods; foods, chocolates, confectionery, flavoured milk, tea, sweetener, beverages, and cereals; skin care and cosmetic products; and baby care products to the retail, medical, medical general, general, kiryana, and utility stores, as well as cosmetic shops, bakeries, pan shops etc.
United Brands Ltd shares were trading at Rs45.10, down Rs0.69 (-1.51 percent). KSE-100 index was trading at 40,864.05 points, down 170.72 points (-0.42 percent) at the time of filing this report.
