Habib-ADM Limited’s board of directors meeting

Karachi: We are pleased to inform you that the Board of Directors of M/s Habib-ADM Limited (HAL) in their meeting held on Wednesday, September 07, 2011 considered and approved the Company’s Audited Financial Statements for the Year ended June 30, 2011. The Financial Results are attached.

Cash Dividend

The Board of Directors has recommended a cash dividend at the rate of 40% i.e. Rs. 2 per share of Rs. 5 each to stock holders whose names appear in the books on October 26, 2011 subject to approval of the Stockholders in the Annual General Meeting.

Moreover, we also inform you that the 31st Annual General Meeting of the Shareholders of the Company will be held on Wednesday, October 26, 2011 to 11:30 a.m. at H.A.H. Muslim Gymkhana Auditorium, Aiwan-e-Saddar Road, Karachi. Members whose names appear in the Register of Members on October 26, 2011 will be entitled to attend the meeting.

The Share Transfer Books of the Company will remain closed from October 20, 2011 to October 26, 2011 (both days inclusive).

A member of the Company entitled to attend and vote may appoint another member as his/her proxy to attend and vote instead of him/her. Proxies must be received at the Registered Office of the Company not later than 48 hours before the time of holding the meeting.

In case of any change in the address, the shareholder are requested to communicate to the Company’s Share Registrar: Secretarial Services (Pvt) Limited, 2nd Floor, UBL Building, I.I. Chundrigar Road, Karachi.

Kindly circulate the above information to your members. We shall forward 300 copies of Annual Reports in due course, which are under printing.

Habib-ADM Limited

Financial Results for the year ended June 30, 2011

 

Financial Results

2011

2010

Rupees

Rupees

Sales
Gross Sales1,402,041,5291,273,610,438
Loss: Sales Tax and Special Excise Duty101,123,42298,855,652
 ————- ————-
Net Sales1,300,918,1071,174,754,786
Cost of Goods Sold 993,638,663860,852,833
 ————- ————-
Gross Profit307,279,444313,901,953
Less:
Selling and Distribution Expenses76,171,26170,766,883
Administrative Expenses 58,304,93552,392,520
 ————- ————-
134,476,196123,159,403
 ————- ————-
Operating Profit172,803,248190,742,550
Less:
Finance Cost2,444,8081,523,644
Other operating charges13,709,52915,109,370
————-————-
16,154,33716,633,014
 ————-————-
156,648,911174,109,536
Add: Other Operating Income
Income from Financial Assets
Income on Bank Deposits 3,963,7946,350,947
Exchange Gain-718,698
Dividend Income from Subsidiary Company8,226,26819,444,932
————-————-
12,190,06226,514,577
Income From Non Financial Assets
Rent Income from Subsidiary Company12,0005,000
Reversal of Provision for Obsolescence of Raw and Packing Material -2,300,000
Gain on Sale of Property, Plant and Equipment345,473937,888
 ————-————-
357,4733,242,888
 ————-————-
Total Other Operating Income12,547,53529,757,465
 ————- ————-
Net Profit Before Taxation169,196,446 203,867,001
Provision for Taxation52,590,78061,377,764
 ————- ————-
Net Profit for the Year116,605,666142,489,237
Other Comprehensive Income for the year  --
 ————-————-
Total Comprehensive Income for the year116,605,666142,489,237
 ————- ————-
Earning per Share of Rs. 5 each  2.923.56

 

For more information, Contact:
Habib-ADM Limited
PCG Plz., Sarwar Shaheed Rd.
Karachi 74200, Pakistan
Tel: +92-(21)-5658701
Fax: +92-(21)-5658720
E-Mail: corphabibarkady.com