Burshane LPG (Pakistan) Limited’s financial results for the year ended June 30, 2011

Karachi: We hove to inform you that the Board of Directors of our company in their meeting held on September 15, 2011 at 2:30 pm. At Hashoo Group Office, Clifton, Karachi recommended the following:

Cash Dividend

A Final Cash Dividend for the year ended June 30, 2011 at Re. 1.00/- per share i.e. 10%.

Financial Results

The financial result of the Company are as follows:

 

Profit and Loss account

for the Year Ended June 30, 2011

2011 2010

(Rupees in ’000’)

Gross Sales 1,724,249 1,422,209
Sales Tax  (252,364)  (196,515)
 ——— ———
Net Sales 1,471,885  1,225,694
Cost of Product Sold (1,366,763) (1,148,089)
——— ———
Gross Profit 105,122 77,605
Administrative Expenses (59,758) (82,704)
Distribution and Marketing Expenses (53,116)  (58,271)
Other Operating Income 112,227 185,252
Other Operating Expenses (20,655)  (27,199)
——— ———
Operating Profit 83,820  94,683
Finance Costs (3,924) (11,786)
———  ———
Profit before Taxation 79,896 82,897
Taxation  (29,792) (32,567)
———  ———
Profit for the Year 50,104 50,330
Other Comprehensive Income for the Year  -  -
Total Comprehensive Income for the Year 50,104 50,330
 ———  ———
Earnings per Share- Basic and Diluted 2.21 2.22

 

The Annual General Meeting of the Company will be held on October 25, 2011 at 10:30 a.m. at Pearl Continental Hotels, Karachi.

The Share Transfer Books of the Company will be closed from October 19, 2011 to October 25, 2011 (both days inclusive). Transfers received at the THK Associates (Private) Limited, 2nd Floor, State Life Building # 3, Dr. Ziauddin Ahmed Road, Karachi # 75530 at the close of business on October 18, 2011 will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Oan Hussain Ali
CFO and Company Secretary
Burshane LPG (Pakistan) Limited
(formerly Shell Gas LPG Pakistan Limited)
Adjacent to Pakistan Refinery Limited
Korangi Creek
Karachi: 7 5190
Tel + 92 (21) 3512 2861- 3
Fax + 92 (21)3512 2864