Suraj Cotton Mills Limited’s financial results for the year ended June 30, 2011

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Karachi: We have to inform you that the Board of Directors of our company in their Meeting held on today at 11:30 A.M. at 3rd Floor, Cotton Exchange Building, I. I. Chundrigar Road, Karachi, recommended the following:

(i) A Final Cash Dividend for the year ended June 30, 2011 at Rs.4 per share i.e. 40%.

(ii) It has been recommended by the Board of Directors to issue Bonus Shares in the proportion of 1 share of every 10 share(s) held i.e. 10%.

(iii) Right Shares                                  Nil

(iv) Any Other Entitlement/ Corporate Action        Nil

(v) Any Other Price-Sensitive Information           Nil

The financial results of the Company are attached herewith.

The Annual General Meeting of the Company will be held on Saturday, October 22, 2011 at 9:30 a.m. at 7-B/III, Marina Homes, Aziz Avenue, Gulberg-V, Lahore.

The above entitlement will be paid to the shareholder whose names will appear in the Register of Members on October 15, 2011.

The Share Transfer Books of the Company will be dosed from October 16, 2011 to October 22, 2011 (both day inclusive). Transfer received at Crescent Group Services (Pvt.) Ltd., Suit No, 306, 3rd floor, Siddiq Trade Centre, 72-Main Boulevard, Gulberg, Lahore at the close of business on October 15, 2011 will be treated in time for the purpose of above entitlement to the transferees.

Profit and Loss Account for the Year Ended 30 June 2011

 

		2011	2010
	Note	(Rupees in thousand)
Sales	28	8,797,929	6,896,059
Cost of sales	29	7,628,389	5,751,905
		———	———
Gross profit		1,169,540	1,144,154
Operating expenses:
Distribution cost	30	244,538	135,003
Administrative expenses	31	77,503	66,975
Other operating expenses	32	60,746	64,540
		———	———
		382,787	266,518
		———	———
		786,753	877,636
Other operating income	33	20,587	16,686
		———	———
		807,340	894,322
Finance cost	34	161,350	196,239
		———	———
Profit before taxation		645,990	698,083
Taxation	35	135,138	192,980
		———	———
Profit for the year		510,852	505,103
		———	———
Earnings per share – basic and diluted (Rupees)	36	28.38	28.06

 

The annexed notes from 1 to 46 form an integral part of these financial statements.

For more information, contact:
Suraj Cotton Mills Limited
7-B-3, Aziz Avenue,
Gulberg 5, La hare Pakistan,
Tel: +92 (42) 3576 0381
F: +92 (42) 3575 0376
Web: www.suraj.com