Ghani Glass 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 Ghani Glass Limited, in its Meeting held on October 3, 2011 at 02:30 P.M at 50-L, Model Town  Ext, Lahore has recommended the following:

(1) Cash Dividend

10%

(2) Bonus Shares

Nil

(3) Any Other Entitlement/Corporate Action

Nil

(5) Any Other Price-Sensitive Information.

Nil

The Financial Results approved by the Board of Directors of the Company are as follows:

 

	2011	2010
	Rupees	Rupees
Sales net	6,869,476,221	6,533,755,609
Cost of sales	(4,868,014,697)	(4,644,759,751)
	————-	————-
Gross profit	2,001,461,524	1,888,995,858
General and administrative expenses	(216,495,175)	(187,079,813)
Selling and distribution expenses	(330,980,042)	(291,733,849)
Other operating expenses	(94,876,367)	(78,556,248)
Other operating income	68,661,102	41,263,873
	————-	————-
Operating profit
	(573,690,482)	(516,106,037)
	————-	————-
	1,427,771,042	1,372,889,821
Cost	(40,559,019)	(64,784,068)
Impairment loss on property, plant as equipment	(20,569,512)	–
Share of loss of associate.	17,764,005	30,102,019
Profit before taxation	1,348,878,506	1,278,003,734
Taxation	(378,309,129)	(330,808,134)
	————-	————-
Profit after taxation	970,569,377	947,195,600
	————-	————-
	Restated
Earnings per share – basic and diluted	9.10	8.88

 

The Annual General Meeting of the Company will be held on October 27, 2011 at Lahore.

The shareholders whose names appear in the Register of Members at the close of business on October 20, 2011 will be entitled to above entitlement.

The Share transfer books of the Company will remain closed from October 21, 2011 to October 27, 2011 (both days inclusive). Transfer received at the office of Shares Registrar M/s. Corplink (Pvt.) Ltd., Wings Arcade, 1-K Commercial, Model Town, Lahore at the close of business on October 20, 2011 will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Hafiz Mohammad Imran Sabir
Company Secretary
Ghani Glass Limited
Corporate Office:  50-L Model Town Lahore
Tel: +92-42-35218946,
Fax: +92-42-35160314
UAN: 111-949-949
Web: www.ghanigass.com