Al-Abid Silk Mills Limited’s results for the year ended on 30th June, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held at 11.00 A.M. on Thursday 29th September, 2011 recommended the following.

Cash Dividend

A final Cash dividend for the year ending 30.06.2011 @ Rs. Nil% per share which works out to Nil% of the Paid up Capital of the Company for the year interim Dividend has already been paid at Rs. Nil per share i.e. Nil %.

The financial results of the company are as follows.

 

Year Ending

30.06,2011

Year Ending

30.06.2010

Rupees

Rupees

Sales and services10,481,908,85210,826,885,480
Cost of sales(9,141,739,776)(9,506,907,621)
————–————–
Gross profit1,340,169,0761,319,977,859
Operating expenses
Distribution Cost320,341,626397,500,458
Administrative Expenses279,745,957 248,562,126
Other operating expenses13,617,841 15,401,551
 ————– ————–
(613,705,424)(661,464,135)
————–————–
726,463,652658,513,724
Other income6,798,9854,198,818
————–————–
Profit from Operations733,262,637 662,712,542
Finance cost(548,449,086) (453,691,493)
————– ————–
Profit before taxation184,813,551 209,021,049
Taxation – current (107,022,439)(110,391,293)
————–————–
Profit for the year after taxation77,791,11298,629,756
Other comprehensive income --
  ————– ————–
Total Comprehensive income for the year77,791,11298,629,756
————–————–
Earrings per share – basic and diluted6.7910.63

 

The Annual Genera Meeting of the Company will be held at 4.30 p.m. on October 27, 2011 at the Auditorium of the Institute of Chartered Accountants of Pakistan, G-31/8, Kehkashan, Clifton, Karachi.

The Share Transfer Books of the Company will be closed from October 20, 2011 to October 27, 2011 (both days inclusive).

 

For more information, contact:
S.M. Jawed Azam
Company Secretary
Al-Abid Silk Mills Limited
Phones: (92-21) 32560040-40
Fax No: (92-21) 32584718
E-mail: mail@alabid.com
URL: www.alabid.com