Pakistan International Container Terminal Limited’s results of the board meeting of PICT Held on Monday, August 29, 2011

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Karachi: We have to inform you that the meeting of Board of Directors started at 12:00 noon on Monday, August 29, 2011, Board of Directors recommended the following:

1) Cash Dividend:  Ordinary:  Cash Dividend @40% (i.e., Rs. 4/- per share)

Preference: Cash Dividend @ 10% (i.e., Re. 1/- per share)

2) Bonus Shares:                               Nil

3) Right Shares:                               Nil

4) Any Other Entitlement/Corporate Action:     Nil

5) Any Other Price-Sensitive Information:      Nil

Annual General meeting:

The 10th Annual General Meeting of the Company will be held on Monday, October 03, 2011 at 11:00 am at Beach Luxury Hotel, Karachi, subject to the approval of the Karachi Stock Exchange.

Book Closure

The Share Transfer Books of the Company will be closed from September 26, 2011 to October 03, 2011 (both days inclusive)

Entitlement

Physical transfer and deposit requests under Central Depository System received at the close of business on September 25, 2011by the Company’s Registrar i.e., M/s Technology Trade (Pvt.) Limited, Dagia House, 241 – C, Block 2, PECHS, Karachi will be treated as being in time for the purpose of entitlement.

The financial results of the Company as of June 30, 2011 are as follows:

Consolidated Financial Statements – Annexure “A”

Standalone Financial Statements – Annexure “B”

Annexure “A”

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

 

	2011	2010
	Rs. In thousands
Turnover net	6,123,776	5,125,117
Terminal operating costs	3,524,660	2,942,067
	———	———
Gross Profit	2,599,116	2,183,050
Administrative expenses	471,251	359,351
Other operating income	228,750	96,807
	———	———
	2,356,615	1,920,506
Finance costs	158,319	185,857
Other Charges	62,142	223,872
	———	———
Profit before Taxation	2,136,154	1,510,777
Taxation	874,131	613,147
	———	———
Profit after Taxation	1,262,023	897,630
	———	———
	(Restated)
Earnings per Ordinary Share – Basic (Rupee)	11.40	8.06
	———	———
	(Restated)
Earnings per Ordinary Share – Diluted (Rupee)	9.93	7.06
	———	———
Turnover – net	6,123,776	5,125,117
Terminal operating costs	3,524,660	2,942,067
	———	———
Gross profit	2,599,116	2,183,050
Administrative expenses	471,075	349,168
Other operating income	221,083	96,807
	———	———
	2,349,124	1,930,689
Finance Costs	158,319	185,857
Other charges	61,992	223,872
	———	———
Profit before taxation	2,128,813	7,520,960
Taxation	874,956	613,147
	———	———
Profit after taxation	1,253,857	907,813
	———	———
	(Restated)
Earnings per ordinary share – Basic (Rupee)	11.32	8.15
	———	———
	(Restated)
Earnings per ordinary share – Diluted (Rupee)	9.86	7.14

 

For more information, contact:
Pakistan International Container Terminal Limited
2nd Floor, Business Plaza
Mumtaz Hassan Road,
Karachi-74000, Pakistan
Tel: (+9221) 32400450-3,
Fax: (+9221) 32400281