Pakarab Fertilizers Limited’s financial results for the year ended December 31, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on March 9, 2012 at 10:00 at p.m.at E-110, Khayaban-e-Jinnah, Lahore Cantt., recommended the following:

(i) Special Dividend

It has been recommended by the Board of Directors to distribute Specie Dividend in the proportion of Nil share for every Nil shares held i.e. Nil %. This is in addition to 225 million shares of Fatima Fertilizer Company Limited (FATIMA) distributed as interim Specie Dividend in the ratio of 5:10 (5 shares of FATIMA every 10 shares held of Pakarab Fertilizers Limited (PAFL).

(ii) Cash Dividend

A final Cash Dividend for the year ended December 31, 2011 at Rs. Nil per share i.e. Nil %. This is in addition to Interim Dividend already paid at Rs. Nil per share i.e. Nil %,

(iii) Bonus Shares

It has been recommended by the Board of Directors to issue Bonus Shares in the proportion of Nil shares for every Nil shares held i.e. Nil %. This is in addition to the interim Bonus Shares already issued @ Nil %.

(iv) Right Shares

The Board has recommended to issue Nil % Right Shares at par/at a discount /premium of Rs. Nil per share in portion of Nil share for every Nil share.

The Financial Results of the Company for the Year Ended December 31, 2011 are enclosed.

The Annual General Meeting of the Company will be held on Monday, April 16, 2012 at 10:30 a.m. at E-110, Khayaban-e-Jinnah, Lahore Cantt.

The Share Transfer Books of the Company will be closed from April 10, 2012 to April 16, 2012 (both days inclusive) Transfers received at the Company’s registered office at the close of business on April 09, 2012 will be treated in time for the purpose of above entitlement to the transferees.

Profit and Loss Account for the Year Ended December 31, 2011

 

2011

2010

(Rupees in thousands)

Sales 16,700,794 18,247,829
Cost of sales (7,188,147) (9,050,836)
———- ———-
Gross profit 9,512,647 9,196,993
Administrative expenses (968,729) (780,046)
Selling and distribution expenses (828,747) (993,556)
Other operating expenses (510,568) (386,735)
Other operating income 1,855,015 1,408,607
———- ———-
Profit from operations 9,059,648 8,445,263
Financial cost (3,472,405) (3,589,819)
Associate fair value through profit or loss
asset fair value through profit or loss 741,050 (120,720)
Share before associate (17,612) (39,002)
———- ———-
Profit before taxation 6,310,681 4,695,722
Taxation (1,720,542) (1,463,760)
———- ———-
Profit for the year 4,590,139 3,231,962
———- ———-
Earnings per share in Rupees 10.20 7.18

 

For more information, contact:
Pakarab Fertilizers Limited
E-110, Khayaban-e-Jinnah,
Lahore Cantt, Pakistan.
PABX: +92 42 111-FATIMA (111-328-462)
Fax: +92 42 36621389,
Web: www.fatima-group.com

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