Hafiz Textile Mills Limited’s financial results for the half year ended 31-12-2011

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Karachi: We have to inform you that the Board of Directors of our company in the meeting held on Wednesday 15th February, 2012 at 10:30 a.m., at 97, Alliance Building, 2nd Floor, Moolji Street, Mereweather Tower, Karachi-74000 recommended the following:

(1) Cash Dividend

An Interim Cash dividend for the half year ended 31-12-2011 @ Rs. Nil per share i.e. Nil. This is in addition to Interim Dividend already paid at Rs. Nil per share i.e. Nil %.

AND/OR

(ii) Bonus Issue

It has been recommended by the Board of directors to issue Interim Bonus shares in proportion of Nil shares for every Nil Share held i.e. Nil %. The Bonus shares will be entitled / not entitled for the right shares. This is in addition to the Interim Bonus Shares as declared above.

AND/OR

(iii) Right Shares

The Board has also recommended to issue Nil% Right shares at par / at a discount / premium of Rs. Nil per share in proportion of share(s) for every Nil share(s). The entitlement of right shares being declared simultaneously will be/ will not be applicable on Bonus Shares as declared above

AND/OR

(iv) Any Other Entitlement/ Corporate Action:

None

(V) Any Other Price-Sensitive Information

The financial results of the Company are as under:

 

	FOR THE 2ND QUARTER ENDED		FOR THE HALF YEAR ENDED
	31-Dec-11	31-Dec-10	31-Dec-11	31-Dec-10
	Rs.	Rs.	Rs.	Rs.
Sales (Net)	Nil	Nil	Nil	Nil
Cost of Goods Sold	Nil	Nil	Nil	Nil
Gross Profit / (Loss)	Nil	Nil	Nil	Nil
Operating Expense (Administrative and provisions)	1,243,847	1,147,366	2,202,401	2,315,070
Operating Profit/ (Loss)	(1,243,847)	(1,147,366)	(2,202,401)	(2,315,070)
Financial Expenses	1,749	2,514	7,313	3,377
Other Income	3,055850	1,839,809	5,311,566	3,911,606
Prior Years Adjustments	Nil	Nil	Nil	Nil
Profit/ (Loss) Before Tax	1,810,254	689,929	3,101,852	1,593,159
Workers Participation Fund	Nil	Nil	Nil	Nil
Provision for Tax-Current	(138,707)	(170,433)	(357,864)	(342,613)
Net Profit for the Period	1,671,547	519,496	2,743,988	1,250,546
Accumulated (Loss) Brought Forward	(93,378,147)	(104.833,771)	(99,152,439)	(108,007,600)
Accumulated (Loss) Available	(95,049,694)	(105,353,267)	(96,408,451)	(106,757,054)
Appropriation As Under:
Incremental Depreciation Transferred From	(819,757)	(842,272)	539,000	561,515
Surplus on Revaluation Of Fixed Assets
	———–	———–	———–	———–
Un-appropriated (Loss) Carried Forward	(95,869,451)	(106,195,539)	(95,869,451)	(106,195,539)
	———–	———–	———–	———–
Earning per share	1.39	0.43	2.29	1.04

 

The above entitlement will be paid to the shareholder whose names will appear in the Register of Members on 13-02-2012.

The Share Transfer Books of the Company will be closed from 14-02-2012 to 22-02-2012 (both days inclusive).Transfers received at the 97, Alliance Building, 2nd Floor, Moolji Street, M.W. Tower, Karachi-74000 at the close of business on 13-02-2012 will be treated in time for the purpose of above entitlement to the transferees.

We will be sending you 300 copies of Printed Account for distribution amongst the members of the Exchange.

For more information, Contact:
Hafiz Textile Mills Limited
Registered Office No. 97, Alliance Building,
Opp. Merewether Tower,
Mooli Street, Karachi-74000
Tel: 2440371-2432896
Fax: +92-21-2440372
Email: html1951@hotmail.com