Let’s turn back the clock to 2016. Al Shaheer Corporation has just experienced its best year. Revenues for the company have come to around Rs6.9 billion and earnings per share registered are around Rs3 per share. The market seems to be buoyed by the performance and is valuing the shares at around Rs100. To some it might seem like the stock is being overvalued as it is trading at a multiple of more than 33 times trailing 12 month earnings. However, the company seems to be going strength to strength by registering one great year after another. From 2008 to 2016, the revenues of the company have been on an upward trajectory.
The market is giving a stamp of approval to the stock which was listed at Rs95 per share and it seemed like the company was expected to match the expectations with reality in the near future. Going from a simple partnership in 2008, the company looked to grow by expanding its footprint locally and internationally. To a certain extent, it can be said that Al Shaheer walked so companies like The Organic Meat Company could run. The success of Al Shaheer can be gauged by the fact that it gave out bonus shares in 2015 and 2016 after profitable results. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
