National Refinery Limited’s financial results for the year ended June 30, 2011

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Karachi: We have to inform you that the Board of Directors of our Company in their 165th meeting held on September 10, 2011 at Damascus, Syria; recommended the following:

Cash Dividend:

A final Cash Dividend for the year ended June 30, 2011 @ Rs. 25 per share i.e. 250 %.

Bonus Shares:

It has been recommended by the Board of Directors to issue Bonus Share in the proportion of Nil share(s) for every Nil shares held, i.e. Nil %.

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 shares for every Nil shares. The entitlement of right shares being declared simultaneously will be / will not be applicable on Bonus Shares as declared above.

Profit and Loss Account for the Year Ended June 30, 2011

 

	2011	2010
	(Rupees in thousand)
Gross sales	178,058,448	136,450,985
Trade discounts, taxes, duties and levies	(29,499,956)	(26,264,611)
	———–	———–
Net sales	148,558,492	110,186,374
Cost of sales	(138,551,416)	(103,853,566)
	———–	———–
Gross profit	10,007,076	6,332,808
Distribution and marketing expenses	(1,135,999)	(996,099)
Administrative expenses	(420,995)	(373,775)
Other operating income	2,497,574	1,278,104
Other operating expenses	(768,578)	(409,659)
	———–	———–
Operating profit	10,179,078	5,831,379
Finance cost	(150,468)	(695,757)
	———–	———–
Profit before taxation	10,028,610	5,135,622
Taxation	(3,460,077)	(1,850,808)
	———–	———–
Profit after taxation	6,568,533	3,284,814
	———–	———–
	(Rupees)
Earnings per share	82.14	41.08

 

 

The financial result of the company is enclosed herewith for your information and necessary action please.

The Annual General Meeting of the Company will be held on October 20, 2011 at _____ hours at Carlton Hotel, Karachi.

The Share Transfer Books of the Company shall remain closed from October 11, 2011to October 20, 2011 (both days inclusive). Transfers received at the office of Company’s Registrar at the address below at the close of business on October 10, 2011 will be treated in time for the purpose of payment of entitlement to the transferees:

For more information, contact:
Shaikh Ather Ahmed
Company secretary
National Refinery Limited
7-B, Korangi Industrial Zone,
Korangi, P.O. Box: 8228,
Karachi – 74900 – Pakistan
PABX: 35064977-79
UAN: 111-675-875
Fax: 92-21-35054663
Telephone and Fax: 35061544
Web: www.nrlpak.com