Idrees Textile Mills Limited’s financial results for the year ended 30, 2011

Karachi: Personal Goods

We have to inform you that the Board of Directors of our company in their meeting held on Tuesday, September 27, 2011, at 11.30 A.M. at Registered Office recommended the following.

Cash Dividend

A final Cash Dividend for the year ended June 30, 2011at Rs.1.00 per share i.e. 10% to minority shareholders (Sponsors have waived their right to dividend).

The financial results of the Company are enclosed.

The Annual General Meeting of the Company will be held Saturday on October 29, 2011 at 12.30 p.m. at Sadabahar Lawn, Kokan Society, Hyder Ali Road, Karachi.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on October 26, 2011.

The Share Transfer Book of the company will be closed from October 26, 2011 to November 03, 2011 (Both days inclusive). Transfers received at the office of our share Registrar 53- Kokan Society Alamgir Road Karachi at the close of business on October 25, 2011 will be treated in time for the purpose above entitlement to the transferees.

Secretary

Profit and Loss Account for the Year Ended June 30, 2011

 

2011

2010

Rupees

Rupees

Sales 1,203,111,500 1,237,401,725
Cost of goods sold (1,042,952,530) (1,056,854,634)
————- ————-
Gross profit 160,158,970 180,547,091
Distribution cost 3,063,407 1,080,785
Administrative expenses 32,468,721 25,621,021
Other operating expenses 20,242,315 6,349,267
Finance cost 95,932,992  112,397,324
Other operating income (83,003,886) (16,979,930)
————- ————-
68,703,549 128,468,467
————- ————-
Profit before taxation 91,455,421 52,078,624
Taxation (39,396,035) (20,486,651)
————- ————-
Profit after taxation 52,059,386 31,591,973
Other comprehensive income for the year - -
————- ————-
Total comprehensive income for the year 52,059,386 31,591,973
————- ————-
Earnings per share – basic and diluted 2.88 1.75

 

For more information, contact:
Idrees Textile Mills Limited
Ismail Centre, 1st Floor, 5-C,
Central Commercial Area,
Bahadurabad, Karachi-74800 (Pakistan)
Phones: (92-21) 34940026
Fax: (92-21) 34945306
E-mail: nfo@idreestextils.crn

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