Service Industries Textiles Limited’s Financial Result for the year ended 30.06.2011

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Karachi:  We have to inform you that the Board of Directors of our Company in their meeting held on 08.10.2011 at 1100 hours at the Registered Office 38-Empress Road, Lahore, recommended the following:

(i) CASH DIVIDEND

A final Cash Dividend for the year ended 30.06.2011 at Rs.NIL per share i.e. NIL %. This is to addition to Interim Dividend(s) already paid at Rs.NIL per share i.e. NIL %.

AND/OR

(ii) BONUS SHARES

It has been recommended by the Board of Directors to issue Bonus Shares in proportion of NIL share(s) for 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 Shores at par/at a discount/premium of Rs.NIL per share in proportion of NIL share(s) tar every NIL share(s). The entitlement of Right Shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared

AND/OR

(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION      NIL

AND/OR

(v) Any Other Price – Sensitive Information

The Financial Result of the company as follows:-

Particulars	30.06.2011	30.06.2010
	(Rupees)	(Rupees)
Sales – Net	559,499,640	370,868,777
Manufacturing Expenses	(573,542,648)	339,010,033
Gross Profit/ Loss	(14,043008)	31,858,744
Operating Expenses	(11,963,882)	(10,254,950)
Operating Profit/Loss	(26,006,890)	21,603,794
Finance Cost and other Operating Charges	(21,425,612)	(20,881,865)
Other Operating Income	1,106,678	2,132,896
Profit / Loss Before Taxation	(46,325,824)	2,854,825
Taxation	2,094,854	3,413,961
Profit/ Loss after taxation	(44,230,970)	6,268,786
A.ccumulated Loss Brouciht Forward	(326,718,542)	(338,569,428)
Transfer from surpius on revaluation of fixed assets	6,608,961	5,582,100
Accumulated LOSS Carried forward	(364,340,551)	(326,718,542)
Earnings per Share – Basic	(9.94)	1.41

The Annual General Meeting of the Company will be held on 29.10.2011 at 1030 hours at the Registered Office of the Company at 38-Empress Road, Lahore.

The Share Transfer Books of the Company will be closed from 2210.2011 to 29.10.2011 (both days inclusive).

Transfer received at the 38-Empress Road, Lahore at the close of business on 29.10.2011 will be treated in time for the purpose of abvoe entitlement to the transferees.

For more information, contact:
Service Industries Textiles Ltd.
38-Empress Road, Lahore,
Punjab, Pakistan
Tel: +92-42-6304561
Fax: +92-42-6367861