Huffaz Seamless Pipe Industries Limited’s financial results for the year ended June 30, 2012

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Karachi, November 12, 2012 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on Thursday 08-11-2012 at 1600 hrs at Registered, office 207-210, Mashriq Centre Block-14, Gulshan-e-Iqbal Karachi, recommended the followings.

(i) Cash Dividend

A Final Cash Dividend for year ended June 30, 2012 at Rs Nil % per share i.e. %. 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 Bonus shares in the proportion of Nil share (s) for every Nil share (s) held i.e. Nil %. This is in addition, to the Interim Bonus shares already issued @- Nil %.

And/ Or

(iii) Right Shares

The Board has recommended to issue- Nil- % Right shares at par/at a discount/ premium of Rs -Nil- per share in proportion of -Nil- 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            Nil

And/ Or

(v) Any Other Price-Sensitive Information               Nil

The Financial results of the Company are as follows:

		2012	2011
	Note	(Rupees in ‘000)
Net sales	24	2,052,162	1,455,071
Cost of sales	25	(2,031,100)	(1,368,619)
		———	———
Gross profit/ (loss)		20,462	86,452
Selling and distribution cost	26	(22,421)	(16,159)
Administrative expenses	27	(47,570)	(54,486)
		———	———
		(69,991)	(70,645)
		———	———
		(49,529)	15,807
Other operating charges	28	(80,326)	(4,185)
Other operating income	29	4,577	24,717
		———	———
		(125,278)	36,339
Finance cost	30	(76,490)	(74,805)
		———	———
Loss before taxation		(201,768)	(38,466)
Taxation	31	69,268	19,966
		———	———
Loss after taxation		(132,500)	(18,500)
		———	———
		(Rupees)
Loss per share-basic and diluted	32	(2.39)	(0.33)

For more information, contact:
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