Bolan Casting Limited’s financial results for the year ended June 30, 2011

Karachi: The Board of Directors of our Company in their meeting held on September 14, 2011 considered and approved draft Audited Accounts of the Company for the year ended June 30, 2011 and recommended the following:

Cash Dividend: A Cash Dividend for the year ended June 30, 2011 @ Rs. 1.50 per share i.e.15%.

The Financial results of the Company are as follows:

20112010

(Rupees)

Turnover – net1,946,676,9161,707,845,850
Cost of sales(1,711,481,140)(1,468,284,292)
 ————-————-
Gross profit235,195,776 239,561,558
Distribution costs(44,579,733) (42,036,054)
Administrative expenses(36,858,867)(35,919,348)
 ————- ————-
(81,438,600)(77,955,402)
Other operating income 13,419,09517,734,405
Finance costs  (33,822,192) (44,169,885)
Other charges (9,555,552)(9,422,096)
————- ————-
 (29,958,649)(35,857,576)
 ————- ————-
Profit before taxation123,798,527125,748,580
Taxation (45,593,426) (43,591,143)
————-————-
Profit after taxation 78,205,10182,157,437
————- ————-

(Restated)

Earnings per share — basic and diluted 7.50 7.88

 

The Annual General Meeting of the Company for the financial year ended June 30, 2011 will be held on Friday, 28th October, 2011 at 1130 hrs at the Registered Office of the Company at Hub Chowki, Balochistan.

The Share transfer Books of the Company will be closed from 18-10-2011 to 28-10-2011 (both days inclusive). Transfers received at our Share Registrar, M/s. Central Depository Company of Pakistan Ltd., CDC House, 99-B, Block-B, S.M.C.H.S., Main Shahrah-e-Faisal, Karachi at the close of business on 17-10-2011 will be treated in time for the purpose of above entitlement.

 

For more information, contact:
Arfat Mushir
Company Secretary
Bolan Casting Limited
F-1, S.I.T.E., Hub River Road,
Karachi – 75730 Pakistan
Tel: (0092-21)-32579819
Fax: (0092-21)-32573558
E-mail: bcino@bclpk.com
Website: www.bolancastings.com