Attock Refinery Limited’s financial results for the year ended June 30, 2011

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Karachi: We have to inform you that the Board of Directors of our Company, in their meeting held on 11th September, 2011, recommended the following:

i. Cash Dividend

A Final Cash Dividend for the year ended June 30, 2011 @ Rs. 2.00 per share i.e. 20%.

ii. Bonus Issue

Issue Bonus Shares in the proportion of NIL share for every NIL shares held i.e. NIL%.

iii. Right Shares

Issue NIL % Right Shares at par/at a discount/premium of Rs. NIL per share in proportion of NIL shares for every Nil shares. The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.

iv. Any Other Price Sensitive Information

The financial results of the Company is enclosed herewith for your information and necessary action please. See Annexure ‘A’.

 

	Annexure – A
Attock Refinery Limited
Profit and Loss Account
For the Year Ended June 30, 2011
	2011	2010
	Rs ‘000	Rs ‘000
Sales	116,388,370	88,164,026
Reimbursement due from the Government
under import parity pricing formula	9,004	–
	———–	———–
	116,397,374	88,184,026
Less: Cost of sales	(114,839,853)	(88,693,686)
	———–	———–
Gross Profit/ (Loss)	1,557,521	(509,660)
Less: Administration expenses	262,630	245,291
Distribution cost	28,337	24,834
Finance cast	45,408	308,797
Other charges	294,457	76,745
	———–	———–
	(630,832)	(655,667)
	———–	———–
	926,689	(1,165,327)
Other income	1,565,590	983,335
	———–	———–
Profit / (Loss) before taxation from refinery operations	2,492,279	(181,992)
Provision for taxation	(1,375,123)	(293,822)
	———–	———–
Profit / (Loss) after taxation from refinery operations	1,117,156	(475,814)
Income from non-refinery operations
less applicable charges and taxation	1,068,390	602,203
	———–	———–
Profit for the Year	2,185,546	126,389
	———–	———–
Earnings / (loss) per share – Basic and diluted (Rs)
Refinery operations	13.10	(5.58)
Non-refinery operations	12.53	7.06
	———–	———–
	25.63	1.48

 

 

The Annual General Meeting, Entitlement and Book Closure

The Annual General Meeting of the company will be held on Tuesday, 18th October, 2011 at the Registered Office of the Company, Morgah, Rawalpindi.

The Share Transfer Books of the Company will be closed from 11th October, 2011 to 17th October, 2011, (both days inclusive). Transfers received in order at the office of the Share Registrar Noble Computer Services (Pvt.) Limited, 1st Floor, Rouse of Habib Building (Siddiqsons Tower), 3-Jinnab Co-operative Housing Society, Main Shahrah-e-Faisal, Karachi-75350 at the close of business on 10th October, 2011 will be treated in time for the purpose of payment of final dividend.

For more information, contact:
Muhammad Hashim ali
Senior Executive (Accounts)
Attock Refinery Limited
Refinery P.O. Morgah, Rawalpindi,
Pakistan
Tele: (92-5l) 5487041 – 45,
Telefax: (92-51) 5487234,
Email: info@arl.com.pk