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Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Saturday April 28, 2012 at 1600 HRS (1500 Hrs Dubai time) at Registered, office 207-210, Mashriq Centre Block-14, Gulshan-e-Iqbal Karachi, (through Video Conferencing) recommended the following.
(i) Cash Dividend
An interim Cash Dividend for the Quarter ended March 31, 2012 at Rs. Nil per share i.e. Nil %. This is in addition to interim Dividend (s) already paid at Rs. 1.5 per share i.e. 15%.
And/ Or
(ii) Bonus Shares
It has been recommended by the Board of Directors to issue Interim Bonus shares in the proportion of Nil share (s) for every N/A share (s) held i.e. Nil %, This in addition to the Interim Bonus shares already issued @ Nil %.
And/ Or
(iii) Right Shares
The Board has recommended to issue zero % Right Shares at par/at a discount/premium of Rs. N/A per share in proportion of Nil share (s) for every N/A 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
And/ Or
(iv) Any Other Price-Sensitive Information
The financial results of the company are as follows:
Condensed Interim Profit and Loss Account (Unaudited) for the Nine Months Period Ended 31 March 2012
|
Nine Months Ended |
three Months Ended |
||||
|
31-Mar |
31-Mar |
31-Mar |
31-Mar |
||
|
2012 |
2011 |
2012 |
2011 |
||
| Note |
(Rupees in ‘000) |
(Rupees in ‘000) |
|||
| Net sales | 25 |
1,566,276 |
939,789 |
489,119 |
306,420 |
| Cost of sales | 26 |
(1,421,998) |
(882,990) |
(420,710) |
(269,308) |
|
——— |
——- |
——- |
——- |
||
| Gross Profit / (Loss) |
144,278 |
56,799 |
68,409 |
37,112 |
|
| Selling and distribution cost | 27 |
(6,391) |
(3,849) |
(2,146) |
(1,453) |
| Administrative expenses | 28 |
(33,732) |
(33,481) |
(9,933) |
(15,214) |
|
——— |
——- |
——- |
——- |
||
|
(40,033) |
(37,330) |
(12,079) |
(16,667) |
||
|
——— |
——- |
——- |
——- |
||
|
104,245 |
19,469 |
56,330 |
20,445 |
||
| Other operating charges | 30 |
(57,492) |
(4,929) |
(16,257) |
535 |
| Other operating income | 31 |
1,105 |
2,981 |
72 |
266 |
|
——— |
——- |
——- |
——- |
||
|
47,858 |
17,521 |
40,145 |
21,246 |
||
| Finance cost |
(47,443) |
(49,467) |
(15,700) |
(14,414) |
|
|
——— |
——- |
——- |
——- |
||
| (Loss) / profit before taxation |
415 |
(31,946) |
24,445 |
6,832 |
|
| Taxation | 32 |
28,065 |
55,359 |
(4,232) |
15,599 |
|
——— |
——- |
——- |
——- |
||
| Profit / (Loss) after taxation |
28,480 |
23,413 |
20,213 |
22,532 |
|
|
——— |
——- |
——- |
——- |
||
|
(Rupees) |
(Rupees) |
||||
| Earring / (Loss) per share – basic and diluted |
0.51 |
0.42 |
0.36 |
0.41 |
|
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on N/A.
The share transfer Books of the company will be closed from N/A to N/A (both days inclusive). Transfer received at the N/A will be treated in time for the purpose of above entitlement to the transferees.
For more information, Contact:
Hafiz Abdul Majid
Chief Executive
Huffaz Seamless Pipe Industries Limited
207-210, 2nd Floor, Mashriq Centre,
Gulshan-e-Iqbal, Block-14, Karachi – 75300, Pakistan
PABX: 92-21-34146241, 34146242, 34146243
Fax: 92-21-34146249
E-mail: huffaz@cyber.net.pk
Web: www.huffaz.com.pk