Lahore, Pakistan:  On Thursday, May 28, 2020, Avanceon Limited released its first-quarter financial results for the period ended on March 31, 2020. Avanceon achieved a whopping 161.31% increase in profits from last year during the same period. These numbers are on the back of Avanceon posting its best yearly net sales in its history last year (2019), a massive 41% increase.

For more information on our first-quarter results, kindly check our reporting to the Pakistan Stock Exchange and visit, 

The increase in profits was seen due to a surge in sales and other operating income. The sales during the quarter were reported at Rs. 968.40 million, translating into an increase of 40% as compared to Rs. 697.07 million in the corresponding period of the last year.
There was a 45% increase in the cost of revenue as it was posted at Rs. 630.32 million as compared to Rs. 433.59 million. This took the gross profit to Rs. 338.08 million as compared to Rs. 263.49 million recorded in the same period last year.

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About Avanceon – (PSX: AVN) – Avanceon is an industrial automation consultation and system integration entity in Pakistan, Qatar, UAE, KSA and United States. The company follows an ethical, proactive and sustainable approach to business. As a leading innovator within the automation industry, Avanceon provides state of the art automation solutions on three continents. Established in 1984, Avanceon is committed to providing engineering excellence to its clients and partners. Providing end to end solutions, which include Design, Supply, Engineering, Installation, Testing, Commissioning and Maintenance, Avanceon’s executive management has more than a hundred years of experience and insight within the automation and system integration industry.

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