Gadoon Textile Mills Limited’s financial results for the half year ended December 31, 2012

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Karachi, February 25, 2013 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on February 23, 2013 recommended the following:

(i) Cash Dividend                  Nil

(ii) Bonus Shares                  Nil

(iii) Right Shares                 Nil

(iv) Any Other Entitlement         Nil

The financial results of the Company are annexed.

Further, the Extraordinary General Meeting of the Company will be held at 2:00 p. m. on March 20, 2013 at the Registered Office of the Company at Gadoon Amazai, for election of directors and approval u/s, 208 of the Companies Ordinance, 1984.

The Share Transfer Book of the Company will be closed from March 13, 2013 to March 20, 2013″(both days inclusive). Transfers received at the company’s Share 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 March 12, 2013, will be considered in time.

Profit and Loss Account for the Half Year Ended December 31, 2012

	Half Year Ended		Quarter Ended
	December 31,	December 31,	December 31,	December 31,
	2012	2011	2012	2011
	Rupees in ‘000’		Rupees in ‘000’
Sales-net	8,896,094	6,412,744	4,633,192	3,246,305
Cost of goods sold	(8,043,473)	(6,092,106)	(4,110,101)	(2,988,022)
	———	———	———	———
Gross profit	852,621	320,638	523,091	258,283
Other operating income	5,577	32,620	(2,818)	4,463
	———	———	———	———
	858,198	353,258	520,273	262,746
Selling and Distribution cost	(171,609)	(106,845)	(98,077)	(49,348)
Administrative expenses	(52,690)	(14,171)	(27,241)	(21,954)
Other operating expenses	(105,343)	(11,867)	(74,209)	37,025
	———	———	———	———
	(329,642)	(162,883)	(199,527)	(34,277)
	———	———	———	———
	528,556	190,375	320,746	228,469
Finance cost	(109,780)	(170,161)	(62,114)	(85,737)
	———	———	———	———
Profit before taxation	418,776	20,214	258,632	142,732
Provision for taxation
Current	(58,316)	–	(28,195)	–
Deferred	(6,170)	(4,010)	(6,170)	(4,928)
Prior Year	–	1,180	–	1,180
	———	———	———	———
	(64,486)	(2,830)	(34,365)	(3,748)
	———	———	———	———
Net profit after the tax	354,290	17,384	224,267	138,984
	———	———	———	———
Earning per Share-before tax
(Rupees)	17.87	0.86	11.03	6.09
	———	———	———	———
Earning per Share-After Tax
(Basie and diluted) (Rupees)	15.12	0.74	9.57	5.93

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) 34382436
E-mail: secretary@gadoontextile.com
Web: www.gadoontextile.com