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) | 629,447,178 | 878,218,400 | 289,659,601 | 479,897,516 |
| Cost of Sales | 672,706,348 | 781,196,161 | 302,226,631 | 425,684,123 |
| ———– | ———– | ———– | ———– | |
| Gross (Loss)/ Profit | (43,259,170) | 97,022,239 | (12,567,030) | 54,213,393 |
| Operating Expenses | ||||
| Administrative expenses | 12,459,524 | 7,421,030 | 4,019,483 | 3,178,338 |
| Selling and distribution expenses | 16,918,322 | 15,801,856 | 8,780,895 | 10,338,742 |
| ———– | ———– | ———– | ———– | |
| 29,377,846 | 23,222,886 | 12,800,378 | 13,517,080 | |
| ———– | ———– | ———– | ———– | |
| Operating (Loss)/ Profit | (72,637,016) | 73,799,353 | (25,367,408) | 40,696,313 |
| Other Income | 730,541 | 755,682 | 119,867 | 658,737 |
| ———– | ———– | ———– | ———– | |
| (71,906,475) | 74,555,035 | (25,247,541) | 41,355,050 | |
| Other Charges | ||||
| Finance cost | 2,927,287 | 403,173 | 86,566 | 342,040 |
| Workers’ profit participation fund | - | 3,707,593 | - | 2,050,650 |
| ———– | ———– | ———– | ———– | |
| 2,927,287 | 4,110,766 | 86,466 | 2,392,690 | |
| ———– | ———– | ———– | ———– | |
| (Loss) Profit before Taxation | (74,833,762) | 70,444,269 | (25,334,107) | 38,962,360 |
| Taxation | ||||
| Current | 6,348,407 | 8,872,066 | 2,713,310 | 4,876,133 |
| Differed | 2,533,433 | 38,902,820 | 2,533,433 | 29,907,802 |
| ———– | ———– | ———– | ———– | |
| 8,881,840 | 47,774,886 | 5,246,743 | 34,783,935 | |
| ———– | ———– | ———– | ———– | |
| (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
