Gadoon Textile Mills Limited’s financial results for year ended 30th June, 2012

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Karachi, September 25, 2012 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on September 25, 2012 recommended the following:

(i) Cash Dividend                75%

(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 02:00 p.m. on October 31, 2012 at registered office of the Company at Gadoon Amazai.

The Share Transfer Books of the Company will be closed from October 19, 2012 to October 31, 2012 (both days inclusive). Transfer received at the Company’s Shares Registrar, Central Depository Company of Pakistan Limited, CDC House, 99-B, Block-6, S.M.C.H. Society, Main Shahrah-e-Faisal, Karachi-74400 at the close of Business on October 18, 2012 will be treated in time.

Profit and Loss Account (Audited) for the Year from July 01, 2011 to June 30, 2012

	For the year	For the year
	Ended	Ended
	30-06-2012	30-06-2011
	Rupee in ‘000′
Sales-net	13,522,792	15,638,487
Cost of Sales	(12,418,585)	(12,828,453)
	———-	———-
Gross profit	1,104,207	2,810,034
Distribution cost	(247,125)	(293,014)
Administrative expenses	(88,074)	(66,984)
	———-	———-
	(335,199)	(359,998)
	———-	———-
	769,008	2,450,036
Finance Cost	(295,604)	(147,806)
Other operating expenses	(85,704)	(236,268)
	———-	———-
	387,700	2,065,962
Other operating Income	266,766	103,635
	———-	———-
Profit before taxation	654,466	2,169,597
Taxation	(5,653)	(13,342)
Net Profit after tax	648,813	2,156,255
Un-appropriated profit brought forward	3,222,527	1,300,647
	———-	———-
Profit available for appropriation	3,871,340	3,456,902
	———-	———-
Appropriation:
Proposed dividend Rs. 7.50 per share	175,781	234,375
(2011: Rs.10. 00 per Share)
Transfer to General Reserve	–	–
	———-	———-
	(175,781)	(234,375)
	———-	———-
Un-appropriated profit carried forward	3,695,559	3,222,527
	———-	———-
earnings per share – before tax (Rupees)	27.92	92.57
– after tax (Rupees)	21.68	92.00

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