Dewan Farooque Spinning Mills Limited’s financial results for the half yearly, un-audited, condensed interim financial statements of the company for the period ended December 31, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Monday, February 27, 2012 at 03:00 p.m. at Karachi, recommended the following:

(i) Cash Dividend                                     Nil

And/ Or

(ii) Bonus Shares                                     Nil

And/ Or

(iii) Right Shares                                    Nil

And/ Or

(iv) Any Other Entitlement/Corporate Action           Nil

And/ Or

(v) Any Other Price-Sensitive Information             Nil

The Half Yearly, un-audited, condensed interim Financial Statements of the Company for the period ended December31, 2011, are as follows:

 

Half Year Ended

Quarter Ended

July 2011,

July 2011,

Oct 2011,

Oct 2010,

to

to

to

to

Dec 2011

Dec 2010

Dec 2011

Dec 2010

(Rupees)

Sales (Net)629,447,178878,218,400289,659,601479,897,516
Cost of Sales672,706,348781,196,161302,226,631425,684,123
———–———–———–———–
Gross (Loss)/ Profit(43,259,170)97,022,239(12,567,030)54,213,393
Operating Expenses
Administrative expenses12,459,5247,421,0304,019,4833,178,338
Selling and distribution expenses16,918,32215,801,8568,780,89510,338,742
———–———–———–———–
29,377,84623,222,88612,800,37813,517,080
———–———–———–———–
Operating (Loss)/ Profit(72,637,016)73,799,353(25,367,408)40,696,313
Other Income730,541755,682119,867658,737
———–———–———–———–
(71,906,475)74,555,035(25,247,541)41,355,050
Other Charges
Finance cost2,927,287403,17386,566342,040
Workers’ profit participation fund-3,707,593-2,050,650
———–———–———–———–
2,927,2874,110,76686,4662,392,690
———–———–———–———–
(Loss) Profit before Taxation(74,833,762)70,444,269(25,334,107)38,962,360
Taxation
Current6,348,4078,872,0662,713,3104,876,133
Differed2,533,43338,902,8202,533,43329,907,802
———–———–———–———–
8,881,84047,774,8865,246,74334,783,935
———–———–———–———–
(Loss)/ Profit after Taxation(83,715,602)22,669,383(30,580,850)4,178,425
———–———–———–———–
Basic (loss)/ earnings per share (Rupees)(0.86)0.38(0.31)0.07

 

We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange.

For more information, contact:
Dewan Farooque Spinning Mills Limited
7TH Floor, Block-A,
Finance and Trade Centre (FTC),
Shahrah-e-Faisal, Karachi, Pakistan
UAN: (92-21) 111-364-111
Fax: (92-21) 5630860,
Web: www.dewangroup.com.pk