Siddiqsons Tin Plate Limited’s financial results for the first quarter ended September 30, 2011

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Karachi: We are pleased to inform you that the Board of Directors of our Company in their meeting held on October 27, 2011 at 11:00 a.m. at 7th Floor, Siddiqsons Tower, Shahrah-e-Faisal, considered and approved the un-audited financial statements for the first quarter ended September 30, 2011 and recommended the following:

Cash Dividend                     NIL
Bonus Shares                      NIL
Right Shares                      NIL
The financial results of the Company for fine quarter ended September 30, 2011 are enclosed herewith.

Siddiqsons Tin Plate Limited Profit and Loss Account For the 1st Quarter Ended September 30, 2011

 

		Three Months
	Note	September 30	September 30
		2011	2010
		(July September)
		Rupees
Sales – net		734,778,551	847,782,125
Cost of goods sold		(684,167,391)	(764,176,207)
		———–	———–
Gross profit		50,611,160	83,605,918
Other operating income		3,180,809	2,364,791
		———–	———–
		53,791,969	85,970,709
Distribution cost		(2,990,762)	(4,711,655)
Administrative expenses		(16,811,720)	(15,502,069)
Other operating expenses		(2,017,973)	(9,976,210)
Finance cost		(22,538,737)	(28,022,476)
		———–	———–
Profit before taxation		9,432,777	27,758,299
Provision for taxation		(7,347,786)	(10,273,175)
		———–	———–
Profit for the year		2,084,991	17,485,124
		———–	———–
Earnings per share – Basie and Diluted		0.03	0.22

 

The annexed notes form an integral part of these financial statements

For more information, contact:
Siddiqsons Tin Plate Limited
D-53, Textile Avenue, S.I.T.E
Karachi-75700.
Tel: 92-21-2577480-9
Fax: (92-21) 2572839
Website: http://www.siddiqsons.com
E-mail import@siddiqsons.com