Punjab Woolcombers Ltd Management Discussions

PUNJAB WOOLCOMBERS LIMITED ANNUAL REPORT 2003-2004 MANAGEMENT DISCUSSION AND ANALYSIS OPERATING RESULTS: During the year the total income of the company has increased due to better market conditions but due to shortage of working capital, units are still operating on job work basis. During the year companys total turnover and other income has increased from Rs. 1095.24 lacs in previous year to Rs.1414.30 lacs in current year which showed 29% growth as compared to previous year. The job charges for the year 2003-2004 were Rs.148.17 lacs as against the previous year job charges of Rs.228.25 lacs. Loss before financial charges and depreciation has reduced from Rs. 856.65 lacs in 2002-2003 to Rs.337.07 lacs in 2003-2004. The Company is making its best efforts to reduce its cash losses by increasing its own production & discouraging the job work, which will reflect the better financial results during the current year.