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Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Wednesday, February 29, 2012 at 4:00 p.m. at Company’s registered office 242-A, Anand Road, Upper Mall, Lahore have approved the 2nd Quarterly Accounts i.e. Accounts for the six months ending December 31, 2011
The financial results of the Company for the 2nd quarter ended December 31, 2011 are as follows:
| Half Year Ended | Quarter Ended | |||
| Reviewed | Reviewed | Unaudited | Unaudited | |
| Jul-dec | Jul-dec | Oct-Dec | Oct-Dec | |
| 2011 | 2010 | 2011 | 2010 | |
| Rupees | Rupees | Rupees | Rupees | |
| Sales-net | 908,767,045 | 1,024,045,694 | 429,568,013 | 499,385,810 |
| Cost of goods sold | (917,769,038) | (1,015,202,112) | (438,926,852) | (508,475,679) |
| ———– | ————- | ———– | ———– | |
| Gross Profit / (Loss) | (9,001,993) | 8,843,582 | (9,358,839) | (9,109,869) |
| ———– | ————- | ———– | ———– | |
| Administrative expenses | (16,340,262) | (13,982,419) | (8,754,979) | (7,266,925) |
| Distribution cost | (9,612,568) | (6,935,684) | (3,756,528) | (7,676,664) |
| Other operating expenses | (405,855) | (401,652) | (211,205) | (209,568) |
| ———– | ————- | ———– | ———– | |
| (26,358,685) | (21,319,755) | (12,722,712) | (11,155,157) | |
| ———– | ————- | ———– | ———– | |
| Operating loss | (35,360,676) | (12,476,173) | (22,081,551) | (20,265,026) |
| Finance cost | (47,314,253) | (54,632,435) | (2,086,821) | (25,551,679) |
| ———– | ————- | ———– | ———– | |
| (82,674,931) | (67,108,608) | (45,168,372) | (45,816,705) | |
| Other operating income | 86,774,798 | 2,650 | 65,007,889 | 263 |
| ———– | ————- | ———– | ———– | |
| Profit / (Loss) before taxation | 4,099,867 | (67,105,958) | 19,909,517 | (45,816,442) |
| Taxation | (4,648,177) | (5,765,517) | (2,060,916) | (2,757,119) |
| ———– | ————- | ———– | ———– | |
| Profit / (Loss) after taxation | (548,310) | (72,871,475) | 17,848,601 | (48,573,561) |
| ———– | ————- | ———– | ———– | |
| Earning / (Loss) per Share | ||||
| basic and diluted | (0.02) | (7.29) | 0.59 | (4.86) |
We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange.
For more information, Contact:
ICC Textile Limited
242-A, Anand Road, Upper Mall,
P.O. Box: 1280, Lahore- 54000, Pakistan
Tele: (042) 35751765-67,
Fax: (042) 35789206,
E-mail: icctex@wol.net.pk