Nagina Cotton Mills Limited’s financial results for the year 2010-11 ended on 30th June, 2011

Karachi: We have pleasure to advise that the Board of Directors at their meeting held today approved audited accounts of the Company for the year 2010-2011 ended on 30th June, 2011. A copy of profit and loss account is enclosed for your information.

Directors have the pleasure to declare final dividend @ 60% (Sixty percent) i.e. Rs. 6/= (Rupees Six only) per ordinary share of Rs.10/- for the year 2010-2011 ended on 30th June, 2011.

The Dividend will be paid to the shareholders, whose names appear in the Register of Members on Saturday the 22nd October, 2011.

The Share Transfer Books of the Company will be closed from 22nd October, 2011 to 28th October, 2011 (both days inclusive). Valid transfers received in order by our Share Registrars, M/s. Hameed Majeed Associates (Pvt.) Ltd, 5th Floor, Karachi Chambers, Hasrat Mohani Road, at the close of business on Friday, the 21st October, 2011 will be treated in time for the purpose of payment of Dividend to the transferee(s).

44th Annual General Meeting of the Company will be held at 3:00 p.m. on Friday, the 28th October, 2011 at the registered office of the Company.

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

 

2011 2010
Rupees Rupees
Sales 4,596,740,385 2,746,753,923
Cost of goods sold (3,707,994,979) (2,259,995,162)
 ————- ————-
Gross profit 888,745,406 486,758,761
Other operating income 27,818,988 12,406,055
 ————- ————-
916,564,394 499,164,816
Distribution cost  (128,653,055) (82,676,189)
Administrative expenses (65,665,312) (58,681,840)
Other operating expenses (46,370,730) (19,483,292)
Finance cost (94,873,635) (116,311,355)
Loss on investments in associates distributed
to owners as specie dividend  (115,437,304) -
Loss on sale of investments in associates  (2,926,505) -
Share of profit from associated undertakings  26,892,347 40,537,619
 ————- ————-
Profit before taxation 489,530,200  262,549,759
Taxation  (22,944,765) (14,038,359)
 ————- ————-
Profit for the year 466,585,435 248,511,400
Other comprehensive income -  -
————-  ————-
Total comprehensive income for the year 466,585,435 248,511,400
————- ————-
Earnings per share – basic and diluted 24.95 13.29

 

For more information, contact:
Shahzada Ellahi Shaikh
Director
Nagina Cotton Mills Limited
2nd Floor, Sheikh Sultan Trust Bldg. No. 2, 26
Civil Lines Beaumont Road,
Karachi-75530, Pakistan
Tele: (92-21) 35688123
Fax: (92-21) 35683215
E-mail: nagina@cyber.net.pk