Ghazi Fabrics International Limited’s financial results for the year ended 30-06-2011.

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held at 26th September, 2011 at 10:00 a.m., has recommended the following.

Cash Dividend

Board has approved final Cash Dividend for the year ended June 30, 2011 at Rs 1.00 per share i.e. 10% Directors and their friends have declared to forgo their right of said dividend.

Other Price Sensitive Information

Board has approved that interest on loan provided by Directors shall be charged at the rate of 6 month KIBOR with effect from July 01, 2011.

The financial results of the Company are as follows:

 

Year Ended

June 30, 2011

June 30, 2010

Rupees

Rupees

Sales 5,767,986,276 3,827,201,634
Cost of goods sold (5,040,339,637) (3,319,484,688)
————- ————-
Gross Profit 727,646,639 448,716,946
Operating expenses:
- Selling and distribution costs 163,542,779 74,107,655
- Administrative expenses 74,399,036 54,162,977
- Other operating charges 26,522,116 24,417,147
————- ————-
(264,463,931) (152,687,779)
————-  ————-
463,182,708 296,029,167
Other operating income 8,315,971 3,587,817
 ————-  ————-
Profit from operation 471,498,679 299,616,984
Finance cost  161,934,374 166,451,845
 ————-  ————-
Profit before taxation  309,564,305 133,165,139
Taxation (100,119,327) (20,957,312)
 ————-  ————-
Profit after taxation 209,444,978 112,207,826
 ————-  ————-
Earning per share- Basic 6.42  3.44

 

The Annual General Meeting of the Company will be held at 10:30 a.m. on 27th October, 2011 at Qasr-e-Noor, 9-E-2, Gulberg-III, Lahore.

The shares transfer books of the Company will remain closed from 20th October, 2011 to 29th October, 2011 (both days inclusive) Transfers received at our shares registrar Corplink (Pvt.) Ltd Wings Arcade, 1-K Commercial Model Town Lahore or at our Registered office located at 8-C, E-III, Gulberg-III, Lahore-54660 at the close of business on 19th October, 2011 will be treated in time for the purpose of above entitlement to the transferees.

300 copies of printed accounts of the Company will be sent to you for distribution amongst the members of the Exchange in due course of time.

A copy of this letter is also being E-mailed to you and confirmatory copy under sealed cover follows by T.C.S.

 

For more information, contact:
Nauman Iqbal. ACA
Company Secretary
Ghazi Fabrics International Limited
8-C, E-III, Gulberg-III,
Lahore -54000, Pakistan
Phones: + 92 42 5764026-28,
Fax: +92 42 5764032,
Website: www.ghazifabrics.com
Email: info@ghazifabrics.com