Ellcot Spinning Mills Limited’s financial results for the year 2010-11 ended on 30th June 2011

Karachi: We have pleasure to advise that the Board of Directors at their meeting held today approved audited accounts of the Company for the year 2010-2011 ended on 30 June, 2011. A copy of profit and loss account is enclosed for your information.

Directors have the pleasure to declare Final, dividend @ 70% (Seventy percent) i.e. Rs.7/= (Rupees seven only) per ordinary share of Rs. 10/ for the year 2010-2011 ended on 30th June, 2011.

The Dividend will be paid to the shareholders, whose names appear in the Register of Members on Thursday the 20th October, 2011.

The Share Transfer Books of the Company will be closed from 20th October, 2011 to 26th October, 2011 (both days inclusive). Valid transfers received in order by our Share Registrars, MIs. Hameed Majeed Associates (Pvt.) Ltd., 1st Floor, H.M., House, 7-Bank Square, Lahore, at the close of business on Wednesday,’ the 1gth October, 2011 will be treated in time for the purpose of payment of Dividend to the transferee(s).

23rd Annual General Meeting of the Company will be held at 11:30 a.m. on Wednesday, the 26th October, 2011 at the registered office of the Company.

Profit and Loss Account For The Year Ended June 30, 2011

 

2011

2010

Rupees

Turnover – net4,991,956,2373,186,159,742
Cost of sales4,302,711,5162,772,369,874
————-————-
Gross profit689,244,721413,789,868
Selling and distribution expenses56,182,35953,332,253
Administrative and general expenses51,288,514 44,035,886
 ————-————-
107,470,87397,368,139
Net other income10,253,2722,669,986
————-————-
Operating profit592,027,120319,091,715
Finance cost137,922,985140,059,317
Other charges32,182,73512,355,098
————-————-
Profit before taxation421,921,400166,677,300
Taxation69,820,33438,043,908
 ————-————-
Profit after taxation352,101,066128,633,392
————-————-
Earnings per share – basic and diluted32.1611.75

 

For more information, contact:
Iftikar Taj Mian
Corporate Secretary
Ellcot Spinning Mills Limited
Nagina House, 91-B-1,
M.M. Alam Road,
Gulberg-III, Lahore-54660, Pakistan
Tel: (92-42) 35756270-77
Fax: (92-42) 35711856
E-mail: info@angina.com