Aruj Garment Accessories Limited’s financial results for the year ended 30th June 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on 30th September 2011 at 11 AM at 2-KM off Raiwind. Manga Road, Raiwind, Lahore, recommended the following:

(i) Cash Dividend

An Interim Cash Dividend for the Year ended 30th June, 2011 at Rs. Nil per share i.e. Nil %. This is in addition to Interim Dividend already paid at Rs. Nil per share i.e. Nil%.

(ii) Bonus Shares

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

(iii) Right Shares

The Board has recommended to issue Nil % Right Shares, at par/at a discount/premium of Ps. Nil .per share in proportion of Nil shares for every Nil shares.

(iv) Any Other Entitlement/Corporate Action        Nil

(v) Any Other Price-Sensitive Information          Nil

The Profit and Loss and Balance Sheet for the Year ended 30th June, 2011 are enclosed herewith.

The Annual General Meeting of the Company will be held on 29th October 2011 at 9:00 AM at the Registered office of the Company at 2-KM off Raiwind Manga Road, Raiwind, Lahore.

Statement of Financial Position as at June 30, 2011

 

2011

2010

Equity and LiabilitiesNote

Rupees

Rupees

Share Capital and Reserves
Share Capital
Authorized
8,000,000 (2010:8,000,000) ordinary
shares of Rs. 10/- each80,000,00080,000,000
 ———–———–
Issued, subscribed and paid up:5 61,517,00061,517,000
Retained earnings27,418,74918,339,661
———–———–
Total Equity88,935,74979,855,661
Non-Current Liabilities
Long-term finance6-4,414,547
Liabilities against assets subject to
Finance lease72,271,8884,127,893
Loan from directors829,833,13232,071,182
Deferred liabilities917,091,91016,458,262
 ———– ———–
49,196,91057,071,884
Current Liabilities
Trade and other payables1055,630,80146,136,656
Accrued mark-up2,038,8161,710,878
Short-term finance-secured 1142,698,72149,188,301
Current portion of long term liabilities124,207,12410,938,752
Provision for taxation133,963,8763,487,678
———–———–
108,539,338112,062,265
Contingencies and Commitments14--
 ———–———–
 246,671,997248,990,810
Assets
Non-Current Assets
Property, plant and equipment15114,527,076105,273,203
Capital work in Progress1639,800,66713,420,740
Long term Security deposits161,215,4501,600,450
Current Assets
Stores, spare parts and loose tools17262,622 360,651
Stock in trade1818,804,92243,485,308
Trade debts1911,466,37814,043,283
Loans and advances2040,041,58416,340,191
Trade deposits and short term prepaym2,335,759 3,691,473
Other receivables225,369,77322,413,219
Cash and bank balances2312,847,766 28,273,292
———–———–
91,128,804 128,616,417
———–———–
248,671,997248,990,810

 

The annexed notes form an integral part of these financial statements.

Chief Executive

Director

Profit and Loss Account for the Year Ended June 30, 2011

 

2011

2010

Note

Rupees

Rupees

Sales- net24396,387,622345,439,418
Cost of sales25356,438,791314,182,885
 ———–———–
Gross profit39,948,83131,256,533
Operating expenses
Distribution and selling Cost265,098,6763,707,263
Administrative expenses2711,450,4229,781,950
———–———–
16,549,09813,489,213
 ———– ———–
Operating profit23,399,73317,767,320
Other operating expenses28724,257509,585
Finance cost299,883,53510,696,319
Other operating income30968,935272,700
———– ———–
Profit before taxation13,760,8776,834,116
Taxation314,681,7893,344,928
———–———–
Profit after taxation9,079,0883,489,188
 ———–———–
Earnings per share – basic321.480.57

 

The annexed notes form an integral part of these financial statements.

For more information, contact:
Aruj Garment Accessories Limited
2 KM, Off Raiwind Manga Road,
Raiwind, Lahore
Tel: +92-42-35393125-6
Fax: +92-42-35393127
Website: www.aruj.com
E-mail: info@aruj.com