Financial results of Crescent Fibres Limited for quarter ended September 30, 2016

Karachi, Crescent Fibres Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on October 28, 2016.

The agenda of the meeting was discussion of profit and loss account for quarter ended September 30, 2016 which portrayed a profit of Rs. 904,873 with earnings per share 0.07 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Crescent Fibres Limited was incorporated in Pakistan on August 06, 1977 as part of Crescent Sugar Mills and Distillery Limited. The foundations of the company are laid under the Companies Ordinance, 1984 as a public limited company. The principal business of the Company is manufacture and sale of yarn. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is situated in Lahore.

The wood related and chemical operations have been discontinued. The textile company operates 55,956 spindles based on the latest European and Japanese machinery and specializes in production of high value added polyester / cotton and chief value cotton yarns. The manufacturing facilities are located at Nooriabad Industrial Estate, District Dadu, in the Province of Sindh, and at Bhikhi, District Sheikhupura in the Province of Punjab.

The associated companies are Crescent Powertec Limited, Equity Textile Limited, Mohd Amin Mohd Bashir Inter Private Limited, Premier Financial Services Private Limited, Premier Insurance Limited, Suraj Cotton Mills Limited and Shams Textile Mills Limited.

The symbol “CFL” is being used by the stock exchanges for the shares of Crescent Fibres Limited.