Pakistan Synthetics Limited’s financial results for the half year ended 31st December, 2011

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Karachi: We have to inform you that the Board of Directors of our Company, in their meeting held on Wednesday, 15th February, 2012, at 03:30 pm, has considered and approved the un-audited financial statements for the Half Year Ended 31st December, 2011.

The Board of Directors has not recommended any Cash Dividend / Bonus Shares / Right Shares to the Shareholders of the Company for the Half Year Ended 31st December, 2011.

The Financial Results of the Company are annexed herewith.

We will be sending you 300 copies of printed financial statements for distribution among the Member of the Exchange in due course of time.

Condensed Interim Profit and Loss Account (Unaudited) for the Six Months Period 31 December 2011

 

	Note	Six Months Period Ended		Quarter Ended
		31 December	31 December	31 December	31 December
		2011	2010	2011	2010
		(Rupees in ‘000)
Gross sales		1,968,724	2,004,541	932,348	1,154,977
Brokerage, discounts and
Freight reimbursement		(14,190)	(46,948)	(8,081)	(28,781)
Sales tax		(6,082)	–	(2,821)	–
		———	———	——-	———
Net sales		1,948,452	1,957,593	921,146	1,126,196
Cost of sales		(1,847,158)	(1,618,439)	(886,714)	(930,639)
		———	———	——-	———
Gross profit		101,294	339,154	34,432	195,557
Selling and distribution expenses		(10,204)	(8,390)	(5,396)	(4,615)
Administrative expenses	15	(16,159)	(42,440)	(7,832)	(6,003)
Other operating expenses	16	(3,733)	(23,206)	246	(15,980)
		———	———	——-	———
		(30,096)	(74,036)	(12,982)	(26,598)
Other operating income		6,310	6,405	(15,458)	40,673
		———	———	——-	———
Operating profit before
finance costs		77,308	271,523	5,992	209,632
Finance costs		(42,138)	(1,643)	(23,797)	(1,345)
		———	———	——-	———
Profit before tax		35,170	270,060	(17,805)	208,287
Income tax – current		–	(118,277)	10,334	(91,008)
-deferred		(17,232)	23,530	(9,025)	17,977
		———	———	——-	———
		(17,232)	(94,697)	1,309	(73,031)
		———	———	——-	———
Profit after tax for the period		17,938	175,363	(16,496)	135,256
		———	———	——-	———
		(Rupee)
Earning per share – basic and diluted		0.32	3.13	(0.29)	2.41
		———	———	——-	———
Condensed Interim Statement of Comprehensive Income (Un-audited)
For the Six Months Period Ended 31 December 2011
	(Rupees in ‘000)
Profit after tax for the period		17,938	175,363	(16,496)              135,256
Other comprehensive income		–	–	–                     –
		———	———	——-	———
Total comprehensive income
for the period		17,938	175,363	(16,496)	135,256

 

 

For more information, Contact:
Pakistan Synthetics Limited
3rd Floor, K.D.L.B Building,
58, West Wharf Road,
Karachi-74000 Pakistan
Tel: 2313031-34
Fax: (92-21) 2310625
E-mail: headoffice@alkaram.com
URL: www.paksynthetics.com