Ashfaq Textile Mills Limited’s financial result for the quarter ended Sep. 30. 2011

Karachi: We have to confirm you that the Board of Directors of our company in their meeting held on Wednesday, October 26, 2011 at 09 a.m. at Registered Office, 17k.m. Jaranwala Road, Faisalabad, recommended the following:

1. Cash Dividend

An interim Cash Dividend for the quarter ended Nil @ Nil Per share i.e. Nil %.

2. Bonus Issue

It has been recommended by the Board of Directors to issue interim Bonus Shares in proportion of Nil shares for every Nil share held i.e. Nil %.

3. Right Shares

The Board has also recommended to issue Nil % Right Shares at par/at a premium of Rs Nil per share in proportion of Nil share for every Nil shares subject to the consent of the Controller of Capital Issues.

4. Any Other Entitlement

The financial results of the Company are as follows:


Sep.30, 2011

Sep.30, 2010




Sales 277,983,482 216,280,528
Cost of goods sold7240,916,698194,395,289
 ———– ———–
Gross Profit37,066,78421,885,239
Distribution Cost11,819,18810,188,805
Administrative Expenses 5,620,5703,671,589
Other Operating Expenses797,552382,175
Financial Cost3,675,9874,209,918
Profit before Taxation15,153,4873,432,752
Provision for Taxation 2,763,8181,880,751
 ———– ———–
Profit for the period12,389,6691,552,001
 ———– ———–
Earnings per share – Basic1.77 0.22


It is requested that the said information may please be circulated to the member of the exchange.

For more information, contact:
Nadeem Ashfaq
Ashfaq Textile Mills Limited
8-A, Office Colony No. 1,
Susan Road, Madina Town,
Faisalabad, Pakistan
Tel: +92-41-8740101/3
Fax: +92-41-8740106