Gadoon Textile Mills Limited’s financial results for year ended 30th June, 2011

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Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on September 15, 2011 recommended the following:

 

(i)	Cash Dividend	100%
(ii)	Bonus Shares	Nil
(iii)	Right Shares	Nil
(iv)	Any Other Entitlement	Nil

 

The financial results of the Company are annexed.

The annual General Meeting of the Company will be held at 10:00 a.m. on October 31, 2011 at registered office of the Company at Gadoon Amazai.

The Share Transfer Books of the Company will be closed from October 24, 2011 to October 31, 2011 (both days inclusive.) Transfers received at the Company’s Shared Registrar, Central Depository Company of Pakistan Limited, CDC House, 99-B, Block-B, S.M.C.H Society, Main Shahrah-e-Faisal, Karachi-74400 at the close of business on October 22, 2011 will be treated in time.

Profit and Loss Account (Audited) for the Year from July 01, 2010 to June 30, 2011

 

	For the year Ended 30-06-2011	For the year Ended 30-06-2010
	Rupees in ‘000′
Sales-net	15,638,487	10,028,765
Cost of Sales	(12,828,453)	(8,444,067)
	———-	———-
Gross profit	2,810,034	1,584,698
Distribution cost	(293,014)	(280,164)
Administrative expenses	(66,984)	(54,333)
	———-	———-
	(359,998)	(334,497)
	———-	———-
	2,450,036	1,250,201
Final Cost	(147,806)	(290,551)
Other operating expenses	(236,268)	(91,932)
	———-	———-
	2,065,962	867,718
Other operating Income	103,635	6,969
	———-	———-
Profit before taxation	2,169,597	874,687
Taxation
Current	–	–
Deferred	(13,342)	(46,496)
	———-	———-
	(13,342)	(46,496)
Net Profit after tax	2,156,255	828,191
Un-appropriated profit brought forward	1,300,647	636,519
	———-	———-
Profit available for appropriation	3,456,902	1,464,710
	———-	———-
Appropriation;
Proposed dividend Rs.10.00 per share	234,375	164,063
(2010: Rs.7.00 per Share)
Transfer to General Reserve	–	–
	———-	———-
	(234,375)	(164,063)
	———-	———-
Un-appropriated profit carried forward	3,222,527	1,300,647
	———-	———-
earnings per share – before tax (Rupees)	92.57	37.32
after tax (Rupees)	92.00	35.34

 

For more information, contact:
Gadoon Textile Mills Limited
6-A Muhammad Ali Housing Society,
Abdul Aziz Haji Hashim Tabba Street,
Karachi-75350, Pakistan.
Tel: (92-21) 34397701-03
Fax (92-21) 34536229
E-mail: secretary@gadoontextile.com
Web: www.gadoontextile.ccrn