Lotte Pakistan PTA Limited’s board meeting/financial results for the year ended 31 December 2012

Karachi, January 28, 2013 (PPI-OT): The Board of Directors in its meeting hold on 25 January 2013 at Karachi has approved the audited financial statements of the Company and the Group for the year ended 31 December 2012. The group results companies of Lotte Pakistan PTA Limited (LOTPTA) (Company) and Lotte Powergen (Pvt) Limited, a wholly owned subsidiary of the Company.

The loss after taxation for the Company amounted to Rs 184 million as compared to profit after taxation of Rs4, 178 million last year; however on consolidated basis, the group generated a small profit after taxation of Rs 0.8 million for the year ended 31 December 2012.

Audited financial results of the Company for the year ended 31 December 2012

Rupees in `000

2012

2011

Revenue

52,823,257

57,577,198

Cost of sales

(53,037,852)

(50,914,635)

———-

———-

Gross (loss) / profit

(214,595)

6,662,563

Distribution and selling expenses

(132,519)

(197,208)

Administration expenses

(304,659)

(330,463)

Other operating expenses

(22,346)

(502,492)

Other Operating income

304,015

22,883

———-

———-

Operating (loss)/ profit

(370,104)

5,655,283

Finance income

269,970

785,700

Finance cost

(146,054)

(232,437)

———-

———-

(Loss)/ profit before taxation

(246,188)

6,208,546

Taxation

62,471

(2,031,015)

———-

———-

(Loss)/ profit after taxation

(183,717)

4,177,531

———-

———-

Earnings per share-basic and diluted (in Rupees)

(0.12)

2.76

Audited financial results of the Group for the year ended 31 December 2012

Rupees in `000

2012

2011

Revenue

52,823,257

57,577,198

Cost of sales

(53,617,057)

(50,914,635)

———-

———-

Gross (loss)/ profit

206,200

6,662,563

Distribution and selling expenses

(132,519)

(197,208)

Administration expenses

(304,659)

(330,463)

Other operating expenses

(46,500)

(502,492)

Other Operating income

70,615

22,883

———-

———-

Operating (loss)/ profit

(206,883)

5,655,283

Finance income

291,241

785,700

Finance cost

(146,054)

(232,437)

———-

———-

(Loss)/ profit before taxation

(61,676)

6,208,546

Taxation

62,471

(2,031,015)

———-

———-

Profit after taxation

795

4,177,531

———-

———-

Earnings per share-basic and diluted (in Rupees)

-

2.76

Annual General Meeting

The Annual General Meeting (AGM) of the Company will be held at 11:00 am on 26 March 2013 at Karachi.

The Board of Directors has also resolved to close the Register of Members and the Share Transfer Books of the Company from 20 March 2013 to 26 March 2013 (both days inclusive). Transfers received at the Company’s registrar’s office viz: Famco Associates (Pvt) Ltd, First Floor, State Life Building No. 1-A, I.I. Chundrigar Road, Karachi at the close of business on 20 Mach 2013 will be treated in time for the purpose of above entitlement to the transferees.

The shareholders are being notified accordingly.

For more information, contact:
M Asif Saad
Chief Executive
Lotte Pakistan PTA Limited
EZ/1 -P-4, Eastern Industrial Zone,
Port Qasim, P.O. Box 723,
Karachi – 74200, Pakistan
UAN: +92 021 111 782 111
Direct Line: +92 021 3472 6000
Facsimile: +92 021 3472 6001
E-mail: asif.saad@lotte-ppta.com
Website: www.lotte-ppta.com

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