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Karachi: We have to inform you that the Board of Directors of Pak Elektron Limited (PAEL) in their Meeting held on Monday April 09, 2012 at 11:30 A.M. at Factory Premises 14-KM Ferozepur Road, Lahore have approved the Accounts for the year ended December 31, 2011 and passed over the dividend.
The Financial Results of the Company are as follows:
| Year Ended | Year Ended | |
| December 31 | December 31 | |
| 2011 | 2010 | |
| (Rupees in thousands) | ||
| Revenue | 13,723,169 | 19,895,448 |
| Sales Tax and Discount | 2,380,339 | 2,372,792 |
| ———- | ———- | |
| Revenue – Net | 11,342,830 | 17,522,656 |
| Cost of Sales | 10,277,948 | 13,814,754 |
| ———- | ———- | |
| Gross Profit | 1,064,882 | 3,707,902 |
| Other Operating Income | 37,140 | 50,936 |
| ———- | ———- | |
| 1,102,022 | 3,758,838 | |
| Distribution Cost | 792,803 | 1,057,011 |
| Administrative Expenses | 683,115 | 751,074 |
| Other Operating Expenses | 4,838 | 71,223 |
| Finance Cost | 1,413,264 | 1,623,611 |
| ———- | ———- | |
| 2,894,020 | 3,502,919 | |
| ———- | ———- | |
| (1,791,998) 255,919 | ||
| Share of (Loss)/ Profit of Associates | (10,162) | 5,289 |
| ———- | ———- | |
| (Loss)/ Profit before Taxation | (1,802,160) | 261,208 |
| Provision for Taxation | (638,698) | 72,184 |
| ———- | ———- | |
| (Loss)/ Profit for the Period/Year | (1,163,462) | 189,024 |
| Other Comprehensive Income | – | – |
| Total Comprehensive (Loss)/ Income | ||
| ———- | ———- | |
| For the Year | (1,163,462) | 189,024 |
| ———- | ———- | |
| Earnings Per Share | ||
| Basic | (10.09) | 1.19 |
| ———- | ———- | |
| Diluted | (10.09) | 1.24 |
The Annual General Meeting of the Company will be held at 11:00 A.M. on Monday, April 30, 2012 at PEL Factory Premises 14 K.M. Ferozepur Road, Lahore.
The Share Transfer Books of the Company will remain closed from April 30, 2012 to May 06, 2012 (both days inclusive).
For more information, contact:
M. Omer Farooq
Company Secretary
Pak Elektron Limited
17- Aziz Avenue, Canal Bank,
Gulberg- V, Lahore – 54660, Pakistan
P.O. Box No: 675
Tel: 92-42-5718274-77
Fax: 92-42-5762707
E-mail: saiglogroup@saigols.com