Ghani Value 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 Value Glass Limited (GVGL), in its Meeting held on October 5, 2011 at 12:00 Noon at 50-L, Model Town Ext; Lahore has recommended the following:

(i) Cash Dividend

The Board of Directors has recommended Cash Dividend @ 10 % i.e. Re. 1 per share, to the shareholders of the company except Directors, Sponsors and their family members.

(ii) Bonus Shares

Nil

(iii) Any Other Entitlement / Corporate Action

Nil

(iv) Any Other Price-Sensitive Information

Nil

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

 

	2011	2010
	(Rupees)
Sales-net	346,418,810	390,640,660
Cost of sales	304,676,779	318,562,386
	———–	———–
Gross profit	41,742,031	72,078,274
Distribution cost	13,874,382	9,825,723
Administrative expenses	10,988,678	9,300,564
	———–	———–
	24,863,060	19,126,287
	———–	———–
Operating profit	16,878,971	52,951,987
Bank charges	358,172	391,467
Other operating income	(8,402,888)	(3,329,530)
Other operating expenses	1,826,916	5,332,937
	———–	———–
	(6,217,800)	2,394,874
	———–	———–
Profit before tax	23,096,771	50,557,113
Taxation	5,410,644	16,386,800
	———–	———–
Profit after tax	17,686,127	34,170,313
Other comprehensive income for the year	–	–
	———–	———–
Total comprehensive income for the year	17,686,127	34,170,313
	———–	———–
Earnings per share – basic and diluted	2.35	4.53

 

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

The Share transfer books of the Company will remain closed from October 21, 2011 to October 27, 2021 (both days inclusive). Transfer received at the office of Shares Registrar M/s. Corplink (Pvt.) Ltd., Wings Arcade, 1-KCommercial, 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.

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.

For more information, contact:
Hafiz Mohammad Imran Sabir
Company Secretary
Ghani Value Glass Limited
Head Office: 40-L, Model Town Ext,
Lahore-Pakistan
UAN: 111-949-949
Tel: +92-42-35174025
Fax: +92-42-35172263
e- mail: info@ghanivalueglass.com
Web: www.ghanivlaueglass.com