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Karachi, August 30, 2012 (PPI-OT): We have to inform you that the Board of Directors of the Company in their meeting held on Wednesday 29 August 2012 at 3.30 p.m. at the registered office of the Company at Lakson Square, Building No. 2, Sarwar Shaheed Road, Karachi has approved the audited financial statements for the year ended 30 June 2012.
The financial results of the Company are as follows:
|
2012 |
2011 |
|
|
Rupees |
||
| Sales – net | 1,693,802,259 | 1,753,880,843 |
| Cost of sales | (1,557,363,068) | (1,589,456,196) |
| ————- | ————- | |
| Gross Profit | 136,439,191 | 164,424,647 |
| General and administrative expenses | (35,217,452) | (30,245,972) |
| Selling expenses | (24,829,852) | (23,115,913) |
| Other operating income | 6,113,188 | 4,647,552 |
| Other operating expenses | (2,727,512) | (3,893,230) |
| ————- | ————- | |
| (56,661,828) | (52,607,563) | |
| ————- | ————- | |
| Operating Profit | 79,777,563 | 111,817,084 |
| Financial charges | (104,388,045) | (95,194,754) |
| ————- | ————- | |
| (Loss)/ Profit before taxation | (24,610,482) | 16,622,330 |
| Taxation | (1,689,925) | (6,347,021) |
| ————- | ————- | |
| (Loss)/Profit for the year | (26,280,407) | 10,275,309 |
| ————- | ————- | |
| (Loss)/ Earnings per share – basic and diluted | (5.54) | 2.17 |
The Annual General Meeting of the Company will be held on Wednesday 10 October 2012 at 10:30 a.m. at Auditorium of Institute of Chartered Accountants of Pakistan, Clifton, Karachi.
The Share Transfer Books of the Company will be closed from 04 October 2012 to 10 October 2012 (both days inclusive). Transfer received by the Company’s Shares Registrar M/s. FAMCO Associates (Pvt.) Ltd., State Life Building No. 1-A, 1st Floor, I.I. Chundrigar Road, Karachi upto close of business on 03 October 2012 will be treated in time for the purpose of attendance of the Annual General Meeting.
For more information, contact:
Tasleemuddin A. Batlay
Director
Merit Packaging Limited
Registered Office and Corporate Department
Lakson Square, Building No.2,
Sarwar Shaheed Road,
Karachi-74200, Pakistan
Ph: 3569 8000
Fax: 92-21-3568 6571