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Karachi, February 25, 2013 (PPI-OT): We wish to inform you that our Board of Directors at its meeting held on February 24, 2013, has approved the audited accounts of the Company for the year ended December 31, 2012.
Dividend: ‘The Board of Directors is pleased to propose a total dividend payable of Rs. 78.60 per share for the full year 2012. The dividend is made up of two elements, a dividend paid out of earnings from normal trading (see business results 2012 as under) amounting to Rs. 2.50 per share and a special dividend amounting to Rs. 76.10 per share, which is a non-recurring one off payment.
The special dividend is paid out of surplus cash arising from the demerger settlement as per the Scheme of Arrangement for the reconstruction of ICI Pakistan Ltd sanctioned by the High Court of Sindh in May 2012’.
The Annual General Meeting of the Company will be held at 10.30 a.m. on April 25, 2013 at 346, Ferozepur Road, Lahore.
The Share Transfer Books of the Company will be closed from April 18, 2013 to April 25, 2013 (both days inclusive). Transfers received in order at the office of our Shares Registrar, M/s FAMCO Associates (Pvt.) Limited, State Life Building 1-A, 1st Floor, I. I. Chundrigar Road, Karachi-74000, by the close of business on April 17, 2013 will be treated in time for the purposes of the AGM.
The Company will provide you 300 copies of the printed accounts 21 days before the AGM for distribution amongst the members of the Exchange.
Financial Results
|
Six months |
||
|
period from |
||
|
01 July 2011 to |
||
|
31 December |
||
|
2012 |
2011 |
|
|
(Rupees in thousand) |
||
| Turnover |
6,335,301 |
3,288,511 |
| Sales tax, excise duty and discounts |
(1,571,110) |
(842,091) |
|
——— |
——— |
|
| Net sales |
4,764,191 |
2,446,420 |
| Cost of sales |
(3,192,800) |
(1,646,325) |
|
——— |
——— |
|
| Gross profit |
1,571,391 |
800,095 |
| Selling and distribution expenses |
(831,244) |
(426,512) |
| Administrative and general expenses |
(496,779) |
(218,680) |
|
——— |
——— |
|
| Operating result |
243,368 |
154,903 |
| Finance cost |
(11,308) |
(16,100) |
| Other operating charges |
(41,810) |
(29,401) |
|
——— |
——— |
|
|
(53,118) |
(45,501) |
|
| Other operating income |
315,568 |
175,550 |
|
——— |
——— |
|
| Profit before taxation |
505,818 |
284,952 |
| Taxation |
(140,387) |
(97,271) |
|
——— |
——— |
|
| Profit after taxation |
365,431 |
187,681 |
|
——— |
——— |
|
| Earnings per share | ||
| – basic and diluted (2011: Analised )-Rupees |
7.87 |
8.08 |
A complete set of accounts is being placed on the Company’s website: www.akzgnobelcam/pk/paints and also being e-mailed to the three stock exchanges in PDF format for uploading on their respective websites.
For more information, contact:
Akzo Nobel Pakistan Limited
346, Ferezpur Road,
P.O. Box 273, Lahore 54600
T: +92 42 111 551 111
T: +92 42 591 8595-96
F: +92 42 583 5011