Nadeem Textile Mills Limited’s financial results for the year ended 30th June 2011

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Karachi: We have to inform you that the Board of Directors of our Company in their Meeting held on 26th September, 2011 at 3:30 p.m. recommended the following:

i) Cash Dividend

A final Cash Dividend for the year ended 30th June, 2011 @ Rs. Nil per share i.e. Nil%. This is in addition to Interim Dividend(s) already paid at Rs.Ni1 per share i.e. Nil %.

And/ Or

ii) Bonus Issue

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. 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:

 

	Note	Jun-11	Jun-10
		Rupees	Rupees
Sales-net	21	3,668,883,661	2,629,106,636
Cost of Sales	22	(3,438,715,465)	(2,244,275,417)
		————-	————-
Gross Profit		230,168,196	384,831,219
Administrative expenses	23	(32,487,799)	(31,240,502)
Distribution costs	24	(26,032,920)	(18,986,555)
		————-	————-
		(58,520,719)	(50,227,057)
		————-	————-
		171,647,477	334,604,162
Other Operating income/ (loss)	25	3,133,991	904,646
Other Charges	26	(5,177,349)	(20,534,678)
Financial cost	27	(117,971,935)	(103,980,250)
		————-	————-
		(120,015,293)	(123,610,282)
		————-	————-
Profit before taxation		51,632,184	210,993,880
Taxation	28	(22,600,087)	(27,119,344)
		————-	————-
Profit after taxation		29,032,097	183,874,536
		————-	————-
Earnings per share – basic and diluted	29	2.42	15.30

 

The Annual General Meeting of the Company will be held on 20th October, 2011 at 9 30 p.m. at Hotel Crown Inn, Plot No. 171, Off 2l AM, Frere Road, Saddar, Karachi.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on 12th October, 2011.

The Share Transfer Books of the Company will be closed from 13-10-2011 to 20-10-2011 (both days inclusive). Transfers received at the Hameed Majeed Associates (Pvt.) Ltd., Karachi Chambers, Hasrat Mohani Road, Karachi, at the close of business on 12-10-2011 will be treated in time for the purpose of above entitlement to the transferees.

 

For more information, contact:
Nadeem Textile Mills Limited
801-804, 8th Floor,
Lakson Square Building No. 3,
Block-1, Sarwar Shaheed Road, Karachi
Phones: (92-21) 5220481 – 88,
Fax: (92-21)5220495-96
E-Mail: info@shadmangroup.com.pk