Prosperity Weaving Mills Limited’s financial results for the year ended June 30, 2013

Karachi, September 26, 2013 (PPI-OT): We have to inform you that the Board of Directors of our company in their meeting held today September 26, 2013 at 12:30 p.m. at Lahore, recommended the following:

(i) Cash Dividend

Final Cash dividend for the year ended June 30, 2013 at Rs.6/= (Rupees six) per share i.e. 60%.

(ii) Bonus Shares Nil
(iii) Right Shares Nil
(iv) Any Other Entitlement/ Corporate Action Nil
(v) Any Other Price-Sensitive Information Nil

A copy of profit and loss account is enclosed for your information.

22nd Annual General Meeting of the Company will be held at 11:00 a.m. on Wednesday, October 23, 2013 at the registered office of the Company.

The Dividend will be paid to the shareholders, whose names appear in the Register of Members on Thursday, October 17, 2013.

The Share Transfer Books of the Company will be closed from October 17, 2013 to October 23, 2013 (both days inclusive). Valid transfers received in order by our Share Registrars, M/s. Hameed Majeed Associates (Pvt.) Ltd., 1st Floor, HM House, 7-Bank Square, Lahore, at the close of business on Wednesday, October 16, 2013 will be treated in time for the purpose of payment of Dividend to the transferee(s).

We will be sending 300 copies each of printed accounts for distribution amongst the members of the Exchange 21 days before the date of AGM.

Profit and Loss Account for the Year Ended June 30, 2013

                                                            2013                    2012
                                                                       Rupees
Sales-net                                               6,600,175,345           5,382,233,670
Cost of sales                                          (5,933,642,521)         (5,007,539,765)
                                                        -------------           -------------
Gross profit                                              666,532,824             374,693,905
Distribution cost                                        (104,517,907)           (102,192,947)
Administrative expenses                                   (52,249,378)            (50,122,897)
Other operating expenses                                  (33,108,138)            (11,012,502)
                                                        -------------           -------------
                                                         (189,875,423)           (163,328,346)
                                                        -------------           -------------
                                                          476,657,401             211,365,559
Other income                                                1,756,723               3,871,811
                                                        -------------           -------------
Operating profit                                          478,414,124             215,237,370
Finance cost                                              (82,942,473)           (107,067,796)
                                                        -------------           -------------
Profit before taxation                                    395,471,651             108,169,574
Provision for taxation                                    (52,898,250)            (30,645,722)
                                                        -------------           -------------
Profit after taxation                                     342,573,401              77,523,852
                                                        -------------           -------------
Other comprehensive income                                        -                       -
                                                        -------------           -------------
Total Comprehensive income for the year                   342,573,401              77,523,852
                                                        -------------           -------------
Earnings per share-basic and diluted                            18.54                    4.20
                                                        -------------           -------------

For more information, contact:
Shahzada Sultan Mubashir
Corporate Secretary
Prosperity Weaving Mills Limited
Nagina House, 91-B-1,
M.M. Alam Road, Gulberg-III,
Lahore-54660, Pakistan
Tel: (92-42) 35756270-77,
Fax: (92-42) 35711856,
E-mail: info@angina.com

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