Pak Datacom Limited’s financial results for the year ended June 30, 2011

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Karachi: We are please to inform that the Board of Directors of the Company in their meeting held on Wednesday September 21, 2011 at 02:30 p.m. recommended the following:

(i) Cash Dividend

A final cash dividend for the year ended June, 2011 @ 10% i.e. Rs. 1.00 per share. This final dividend is in addition to 15% (Rs. 1.50 per share) interim cash dividend already paid by the company.

(ii) Bonus Shares

The Board of Directors has recommended not to issue any Bonus Shares for the period.

(iii) Right Shares

The Board has also recommended not to issue any Right Shares.

The financial results of the company are as follows:

 

	June 30, 2011	June 30, 2010
	Rupees	Repees
Revenue	675,118,707	1,058,615,96
Cost of services	(589,823,358)	(752,009,931)
	————	————
	85,295,349	306,606,030
Administrative expenses	(76,117,648)	(78,362,732)
Marketing expenses	(1,109,819)	(1,149,732)
	————	————
	(77,227,467)	(79,512,464)
	————	————
Operating profit	8,067,882	227,093,566
Other operating income	22,070,861	23,169,477
	————	————
	30,138,743	250,263,043
Finance cost	(1,192,707)	(722,255)
	————	————
Profit before taxation	28,946,036	249,540,788
Provision for taxation	(11,437,690)	(90,447,376)
	————	————
Profit after taxation	17,508,346	159,093,412
Other comprehensive income	–	–
	————	————
Net profit for the year	17,508,346	159,093,412
	————	————
Earning per share (EPS)	2.23	20.29

 

Appropriations

The Board of Directors in its meeting held on September 21, 2011 approved (i) transfer of Rs. Nil (2010: Rs. 50.00 million) from un-appropriated profit to general reserves; (ii) final cash dividend of Rs. 1.00 per share (June 2010 Rs. 5 per share) amounting to Rs. 7.841 million (2010: Rs. 39.204 million).

Annual General Meeting

The Annual General Meeting of the company will be held on Friday, October 21, 2011 at 10:00 a.m. at the Registered Office, Telecom Foundation Headquarters, 1st Floor, TF Complex 7 Mauve Area, G-9/4, Islamabad.

Closure of Share Transfer Books

The final dividend, if approved by the shareholders, will be paid to those shareholders whose names will appear in the Register of the Members on October 13, 2010. The Share Transfer Books of the Company will be closed from October 13, 2011 to October 21, 2011 (both days inclusive). Transfers received at the Shares Department, Pak Datacom Limited (PAKD) M/s Hassan Farooq Associates (Private)  Limited HF House, 7-G, Gulberg II, Mushtaq Ahmed Gormani Road, Lahore Ph (042) 5761661-2 at the close of the business on October 12, 2010 will be treated in time for the purpose of payment of dividend to the transferees.

For more information, contact:
Syed Sajjad Hasan
Company Secretary
Pak Datacom Limited
3rd Floor, Umar Plaza, Blue Area
Islamabad
T: +92 51 2872691
F: +92 51 282327