Sally Textile Mills Limited’s Financial Results for the Year Ended 30th June 2011

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Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Saturday 8th October, 2011 at 11:00 a.m. at its registered office 4-F, Gulberg-II, Lahore to consider / adopt Annual Audited Accounts as at 30th June, 2011 and the board recommend the following:

(i) Cash Dividend

A final cash Dividend for the year ended 30-06-2011 at Rs. 0.50 per share of Rs, 10/- i.e. 5%.

And / Or

(ii) Bonus Shares

It has been recommended by the Board of Directors to issue Bonus Shares in proportion of Nil share (s) every Nil share(s) held i.e. Nil %.This is in addition to the Interim Bonus shares already issued @ Nil %.

And/ Or

(iii) Right Shares

The Board has recommended to issue Nil % Right Shares at par/at a discount/premium of Rs. Nil per share in proportion of Nil share(s) for every Nil share(s). The entitlement of right shares being declared simultaneously be/will not be applicable on Bonus Shares as declared above.

And/ Or

(iv) Any Other Entitlement/ Corporate Action           Nil

(v) Any Other Price-Sensitive Information              Nil

The financial results of the company are as follows:

Financial Results as at Year Ended 30-06-2011

	30th June 2011	30th June 2010
	Rupees	Rupees
Turnover-net	2,842,733,350	1,745,619,236
Cost of sales	2,538,647,370	1,488,831,132
	————-	————-
Gross Profit	304,085,980	256,788,104
Selling and distribution Expenses	16,532,946	14,255,149
Administrative and General Expenses	30,943,658	24,818,303
	————-	————-
	47,476,604	39,370,452
Net Other income	7,614,492	2,880,142
	————-	————-
Operating Profit	264,223,868	220,594,794
Finance cost	4,514,295	61,743,485
Other Charges	20,278,980	12,884,066
	————-	————-
Profit Before Taxation	239,430,593	145,967,243
Taxation	29,263,498	11,077,384
	————-	————-
Profit After Taxation	210,167,095	134,889,859
	————-	————-
Earnings per share-basic and diluted	23.95	15.37

The Annual General Meeting of the company will be held on 31st October, 2011 at 10:00 a.m. at Four Seasons Hall, 34-Shahrah-e-Fatima Jinnah, Queens Road, Muzang, Lahore.

The Share Transfer Books of the Company will be closed dated 29th October, 2011 to 12th November, 2011 (both days inclusive). Transfers received at the 4-F,Gulberg-II, Lahore at the close of business on 28th October, 2011 will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Syed Abid Raza Zaidi
Company Secretary
Sally Textile Mills Limited
4-F. Gulberg II,
Lahore. (Pakistan)
Tel: 35754371-73
Fax: 042 – 35754394
E-mail: sallytex@hotmail.com