Fire incidents at two facilities of Service Industries

Fire incidents at two facilities of Service Industries

KARACHI: Service Industries Limited (PSX: SRVI) on Friday reported fire incidents at a factory located in Muridke and godowns in Lahore.

In a communication sent to Pakistan Stock Exchange (PSX), Service Industries Limited stated: “A fire broke out at the factory premises of the company at Muridke on February 09, 2022 which was brought under control. It, however, has caused damage to the raw material store and some finished goods inventory. There has been no damage to the production facilities.

“The insurance companies are assessing the extent of loss caused by the fire break out. Since the above assets are fully insured, the management does not foresee any significant impact on the profitability of the company.”

The company reported another fire incident in Lahore.

“Further, a fire incident has also occurred at one of the rented finished goods godowns of the company located at Multan Road, Lahore on February 10, 2022 which was also brought under control. It however has caused damage to the finished goods inventory.

“The company’s finished goods inventories are fully insured and the loss is being assessed by insurance companies. Accordingly, the management does not foresee any significant impact on the profitability of the company.

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