Reliance Cotton Spinning Mills Limited’s financial results for the year ended 30-06-2011

Karachi: We have to inform you that the Board of Directors of our company in its Meeting held at 04:30 p.m. on Wednesday the 05th day of October, 2011, recommended the following:

Cash Dividend

A final Cash Dividend for the year ended 30th June, 2011 @ Rs.2.50 per share i.e. 25%.

The financial results of the Company are as follows:

 

Year Ended

Year Ended

June 30, 2011

June 30, 2010

Rupees

Sales 2,613,863,5391,753,876,366
Cost of sales 1,876,103,4751,358,894,611
————- ————-
Gross profit737,760,064394,981,755
Other operating income4,544,3837,584,786
 ————-————-
742,304,447402,566,541
Distribution cost110,285,400105,372,722
Administrative expenses40,808,320 32,990,920
Other operating expenses37,818,585 20,993,291
Finance cost 120,973,178114,194,114
 ————-————-
309,885,483273,551,047
 ————-————-
432,418,964129,015,494
Share of profit of associates70,737,09633,544,528
————- ————-
Profit before taxation 503,156,060162,560,022
Provision for taxation26,623,86924,856,840
————-————-
Profit for the year476,532,191137,703,182
  ————- ————-
Earnings per share – basic and diluted46.3013.38

 

The Annual General Meeting of the Company will be held at 04:30 p.m. on 28th October, 2011 at Trading Hall, Cotton Exchange Building, I. I. Chundrigar Road, Karachi.

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

The Share Transfer Books of the Company will be closed from 22nd October, 2011 to 28th October, 2011 (both days inclusive). Transfers received at Hameed Majeed Associates (Private) Limited, 5th Floor, Karachi Chambers, Hasrat Mohani Road, Karachi at the close of business on 21st October, 2011 will  be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Reliance Cotton Spinning Mills Limited
149-Cotton Exch. Building,
I.I. Chundrigar Road, Karachi (Pakistan)
UAN: +92 21 111-000-100
Fax: +92 21 2416705