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Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Tuesday, February 14, 2012 at 15:00 hrs recommended the following:
1. Cash Dividend:
A final Cash Dividend for the year ended December 31, 2011 @ Rs 10 per share i.e. 200%. This is in addition to interim Dividend already paid at Rs.10 per share i.e. 200%.
The Financial results of the Company are as follows:
| Year Ended December 31, | ||
| 2011 | 2010 | |
| (Pupees ‘000) | ||
| Sales | 10,113,572 | 14,936,034 |
| Cost of goods sold | (8,240,616) | (11,987,519) |
| ———- | ———- | |
| Gross profit | 1,872,956 | 2,948,515 |
| Distribution cost | (82,474) | (92,605) |
| Administrative Cost | (133,245) | (121,174) |
| ———- | ———- | |
| Operating profit | 1,657,237 | 2,734,736 |
| Other operating income | 560,447 | 381,640 |
| Other operating expenses | (152,874) | (214,939) |
| ———- | ———- | |
| 2,064,810 | 2,901,437 | |
| Finance cost | (2,135) | (1,324) |
| ———- | ———- | |
| Profit before taxation | 2,062,675 | 2,900,113 |
| Taxation | (703,795) | (991,241) |
| ———- | ———- | |
| Profit after taxation | 1,358,880 | 1,908,872 |
| Other comprehensive income | – | – |
| ———- | ———- | |
| Total comprehensive income | 1,358,880 | 1,908,872 |
| ———- | ———- | |
| Earnings per share- Basic and diluted | 31.65 | 44.46 |
The Annual General Meeting of the company will be held on Tuesday, March 27, 2012 at 15:30 hrs at Marriott Hotel, Karachi.
The above entitlement, if approved by the shareholders will be paid to the shareholders whose name will appear in the Register of the members at the close of business on March 19, 2012.
The Share Transfer Books of the Company will be closed from March 20, 2012 to March 27, 2012 (both days inclusive) Transfers received at our Share Registrar Office M/s FAMCO Associates (Pvt.) Ltd. situated at State Life Building 1-A, Ground Floor, I.I. Chundrigar Road, Karachi 74000 at the close of business on March 19, 2012 will be treated in time for the purpose of payment of dividend to the transferees.
We will be sending you 300 copies of printed Accounts for distribution amongst the members of the Exchange 21 days before the AGM.
For more information, Contact:
Al-Ghazi Tractors Limited
11th Floor, N.I.C. Building,
Abbasi Shaheed Road, Karachi.
Tel: (92-021) 35660881-5
Fax: (92-021) 359689387
E-mail: agtl@alghazitractors.com
Web: www.alghazitractors.com