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Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Thursday, the 9th February, 2012 at 10:30 a.m. at Registered Office of the Company, Plot No. 26 and 26/1, Sector 12-D, North Karachi Industrial Area, Karachi have dispatched and approved the financial results of the Company for the half year ended on December 31, 2011.
The operating results of the company are as follows:
| December 31, | December 31, | |
| 2011 | 2010 | |
| (Rupees ‘000) | (Rupees ‘000) | |
| Sales | 230,029 | 349,175 |
| Cost of Goods sold | (187,945) | (215,939) |
| Gross Profit | 42,076 | 33,236 |
| Operating Expenses | (30,995) | (21,598) |
| Net Profit | 740 | 2,267 |
| Unappropriated Profit B/F | 9,663 | 8,050 |
| Unappropriated Profit C/F | 10,403 | 10,317 |
| Earnings per share | 0.19 | 0.57 |
A complete profit and loss statement for the half year ended December 31, 2011 is attached.
We will be sending you 300 copies of printed accounts for the distribution amongst your members.
Condensed Interim Profit and Loss Account (Unaudited) for the Half Year Ended December 31, 2011
| For the Half Year Ended | For the Quarter Ended | |||
| December 31, | December 31, | December 31, | December 31, | |
| Rupees | ||||
| Sales | 230,020,215 | 249,174,873 | 100,695,221 | 129,402,312 |
| Cost of sales | (187,944,598) | (215,988,977) | (81,383,475) | (112,222,037) |
| ———– | ———– | ———– | ———– | |
| Gross Profit | 42,075,617 | 33,235,896 | 19,331,746 | 17,180,275 |
| Operating Expenses | ||||
| Administrative expense | 22,643,161 | 13,799,382 | 10,728,883 | 6,011,439 |
| Distribution cost | 8,352,241 | 7,799,283 | 2,680,564 | 4,162,352 |
| ———– | ———– | ———– | ———– | |
| 30,995,402 | 21,598,685 | 13,389,247 | 10,173,791 | |
| ———– | ———– | ———– | ———– | |
| Operating Profit | 11,080,215 | 11,637,231 | 5,942,499 | 7,006,484 |
| Other income | (100,296) | 263,781 | (50,410) | 2,331 |
| ———– | ———– | ———– | ———– | |
| 10,979,919 | 11,901,012 | 5,892,089 | 7,008,815 | |
| Finance cost | (7,977,593) | (7,140,539) | (4,323,511) | (4,157,192) |
| ———– | ———– | ———– | ———– | |
| Profit before taxation | 3,002,326 | 4,766,473 | 1,568,578 | 2,851,623 |
| Taxation | (2,262,158) | (2,493,686) | (982,527) | (1,199,570) |
| ———– | ———– | ———– | ———– | |
| Profit after taxation | 740,168 | 2,266,787 | 586,051 | 1,652,053 |
| Unappropriated profit b/f | 9,663,167 | 8,050,103 | 9,617,284 | 8,664,837 |
| ———– | ———– | ———– | ———– | |
| Unappropriated profit c/f | 10,403,335 | 10,316,890 | 10,403,335 | 10,316,890 |
| ———– | ———– | ———– | ———– | |
| Earnings per share – basic and diluted | 0.19 | 0.57 | 0.15 | 0.41 |
For more information, Contact:
Safe Textiles Limited
20, Sasi Towers House,
Civil Lines, Abdullah Haroon Road,
Karachi-213, Pakistan
Tel: +92-21-35653261
Fax: 5215103