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Karachi: We have to inform you that the Board of Directors of our Company in its meeting held on Wednesday, August 3, 2011 at 02:00 p.m. at Sofitel Luxury Hotels, Heathrow Airport, London has recommended the following;
Cash Dividend
An Interim Cash Dividend for the half year and quarter ended June 30, 2011 at Rs.25/- per share i.e. 250%. This dividend is in addition to first Interim Dividend already paid @Rs.35/- per share i.e. 350%.
The financial results of the Company for the half year and quarter ended June 30, 2011 have been considered by the Board of Directors as recommended by the Audit Committee and approved the same. Financial Results are attached at Annexure-1.
The Interim Dividend will be paid to the shareholders whose names appear on the Register of Members on August 25, 2011.
The Shares Transfer Book of the Company will remain closed from August 18 to August 25, 2011 (both days inclusive). Transfers dispatched by August 16, 2011 to our Shares Registrar M/s FAMCO Associates (Pvt.) Ltd., 1st Floor, State Life Building, 1-A, I.I. Chundrigar Road, Karachi-74000 and received during the book closure period will be treated in time for the purpose of payment of Interim Dividend to the transferees.
Financial Results for the Half year and Quarter ended June 30, 2011
|
3 Months ended June 30 |
6 Months ended June 30 |
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|
2011 |
2010 |
2011 |
2010 |
|
|
(Rupees in thousands) |
||||
| Sales – Net | 4,795,255 | 3,575,477 | 9,529,882 | 6,604,028 |
| Cost of sales | 3,931,075 | 2,560,980 | 7,699,558 | 4,872,942 |
| ——— | ——— | ——— | ——— | |
| Gross profit | 864,180 | 1,014,497 | 1,830,324 | 1,731,086 |
| Distribution cost | 36,080 | 31,838 | 72,418 | 64,493 |
| Administrative expenses | 62,177 | 48,648 | 122,610 | 101,178 |
| ——— | ——— | ——— | ——— | |
| 98,257 | 80,486 | 195,028 | 165,671 | |
| ——— | ——— | ——— | ——— | |
| Operating profit | 765,923 | 934,011 | 1,635,296 | 1,565,415 |
| Other operating income | 17,433 | 13,126 | 31,642 | 40,907 |
| ——— | ——— | ——— | ——— | |
| 783,356 | 947,137 | 1,666,938 | 1,606,322 | |
| Finance cost | 2,104 | 3,001 | 8,263 | 4,618 |
| Other operating expenses | 54,541 | 65,148 | 114,939 | 110,520 |
| ——— | ——— | ——— | ——— | |
| 56,645 | 68,149 | 123,202 | 115,138 | |
| ——— | ——— | ——— | ——— | |
| Profit before taxation | 726,711 | 878,988 | 1,543,736 | 1,491,184 |
| Taxation | 265,000 | 323,495 | 559,756 | 538,631 |
| ——— | ——— | ——— | ——— | |
| Profit after taxation | 461,711 | 555,493 | 983,980 | 952,553 |
| Earnings per share-basic and diluted – (Rupees) | 49.99 | 60.14 | 106.53 | 103.13 |
For more information, contact:
Rafhan Maize Products Company Limited
Rakh Canal East Road,
P.O. Box 62,
Faisalabad – 38060,
Pakistan.
Tel: (041) 8540121-23
Fax: (041) 8711016