Baluchistan Wheels Limited’s financial results for the year ended June 30, 2011

Karachi: In Compliance with listing regulation No. 16, and 17 of the Karachi Stock Exchange (Guarantee) Ltd, we are pleased to enclosed herewith the Financial Results of the Baluchistan Wheels Limited (BWHL) for the year ended June 30, 2011 (under sealed cover).

Financial Results of the Year ended June 30, 2011

We have to inform you that the Board of Directors of our Company in their meeting held at 10:30 a.m. on Friday, September 09, 2011, recommended the following:

Cash Dividend

Final Cash Dividend for the year ended June 30, 2011 @ Rs. 2/- per share i.e. (20%)

The Financial Results of the company is as follows:

 

(Rs. in ’000′)

2011

2010

Sales 1,465,209 1,380,901
Cost of Sales (1,206,963) (1,113,091)
 ——— ———
Gross Profit 258,246 267,810
Operating Expenses  (100,015)  (97,607)
 ———  ———
158,231 170,203
Other Income 2,094 2,775
 ——— ———
Operating Profit  160,325 172,978
Financial and Other Charges (21,769) (24,623)
 ———  ———
Profit before Tax 138,556  148,355
Provision for Taxation  (43,559) (64,698)
 ———  ———
Profit after Tax  94,997 83,657
Un-appropriated Profit B/F 459,411  409,090
 ———  ———
Profit available for Appropriation  554,408 492,747
Appropriations:
Interim Dividend Nil (2010: 12.5%)  ( – )  (16,668)
Proposed Final Cash Dividend @ 20 %  (26,669)  (16,668)
 ———  ———
(2010:12.5%)
Un-Appropriate Profit C/F 527,739 459,411
———  ———
Earnings per share (Rs.) 7.12 6.27

 

The Annual General Meeting of the Company will be held at 2:00 pm (14:00 hours) on Saturday. the October 29, 2011 at the Company’s Registered Office Main RCD Highway, Hub Chowki Lasbella, Baluchistan.

Transport will be provided to members from the Karachi Stock Exchange Building to attend the meeting. Departure from Stock Exchange Building will be at 1:00 p.m. (13:00 hours) Members are requested to bring their CNIC at the time of attending meeting.

The shareholders whose names will appear in the Register of the Members on October 21, 2011, will be entitled to above entitlement.

The share transfer books of the Company will be closed from October 22, 2011 to October 29, 2011 (both days inclusive). Transfers received at the Share Registrar Office Shares and Corporate Services (Pvt.) Ltd. Meharsons Estate, Block-E, Talpur Road, Karachi – 74000, at the close of business on October 21, 2011 will be treated in time for the purpose of payment of Dividend, to the transferees.

 

For more information, contact:
Baluchistan Wheels Limited
First Floor, State Life Building, No. 3,
Dr. Ziauddin Ahmed Road,
Karachi – 75530,
Pakistan.
Tel: 35689259
Fax: 92-21 35684003
Email: bwlfin@cyber.net.pk
Web: www.bwheels.com