Century Paper and Board Mills Limited’s financial results for the year ended 30 June 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Friday 29 July 2011 at 3:30 p.m. at the registered office of the Company Lakson Square, Building No. 2, Sarwar Shaheed Road, Karachi has approved the audited financial statements for the year ended 30 June 2011.

The financial results of the Company arc as follows:

30 June 201130 June 2010

(Rupees in thousands)

Sales – net11,779,0549,702,311
Cost of sales(9,769,526)(8,255,272)
———-———-
Gross profit2,009,5281,447,039
General and administrative expenses(227,480)(207,105)
Selling and distribution expenses(105,160)(79,532)
Other operating charges(67,550)(23,006)
Other operating income88,39874,336
———-———-
Operating profit1,697,7361,211,732
Financial charges(963,042)(1,141,099)
———-———-
Profit before taxation734,69470,633
Taxation(329,579)(28,317)
———-———-
Profit for the year405,11542,316
———-———-
Earnings/ (loss) per share-basic and diluted attributable to ordinary shareholders (Rupees)0.21(2.99)
Earnings/ (loss) per share-basic and diluted (Rupees)

Profit for the year

405,11542,316
Less Dividend attributable to Cumulative Preference Shares(390,526)(253,574)
———-———-
Profit/ (loss) attributable to ordinary shareholders14,589(211,258)
———-———-
Weighted average number of ordinary share (in thousands)70,68470,684
———-———-
Earnings/ (loss) per share-basic and diluted attributable to ordinary shareholders (Rupees)0.21(2.99)

The annual general meeting of the Company will be held on Monday 17 October 2011 at 10:30 a.m. at Avari Towers Hotel, Fatima Jinnah Road, Karachi.

The share transfer books of the Company will be closed from 11 October 2011 to 17 October 2011 (both days inclusive). Transfers received by the Company’s Share Registrar M/s. FAMCO Associates (Private) Limited, State Life Building No. 1-A, 1st Floor, I.I. Chundrigar Road, Karachi at the close of business on 10 October 2011 will be treated in time for the purpose of attendance of Annual General Meeting.

 

For more information, contact:
Tasleemuddin A. Batlay
Century Paper and Board Mills Limited
Lakson Square,
Building No. 2,
Sarwar Shaheed Road,
Karachi.
Tel: +9221 589 8000
Fax: +9221 568 4338 and 568 9410
Email: mansoor-ahmed@centurypaper.com.pk
Web: www.centurypaper.com.pk