AVN slips into red in 1HCY26

Mettis Global reported that Avanceon Limited (PSX: AVN) swung to a net loss for the six months through June 30, 2026. The company posted a loss of Rs259.85m, against a profit of Rs167.99m in the same period last year. Loss per share stood at Rs0.62, compared with basic earnings of Rs0.38 per share a year earlier.

Revenue climbed 34% to Rs7.04bn, while cost of revenue rose 40% to Rs5.08bn, lifting gross profit 21% to Rs1.96bn. Administrative and selling costs jumped 45% to Rs1.91bn, other expenses rose 167% to Rs105.92m, and other income fell 52% to Rs77.54m. As a result, operating profit fell 95% to Rs21.74m.

Finance costs eased 13% to Rs222.90m, but the pre-tax position still moved into a loss of Rs201.16m. A tax charge of Rs58.69m, compared with a tax credit of Rs1.65m a year earlier, pushed the net loss to Rs259.85m.