Safa Textile Mills Limited’s financial results for the year ended on June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company, in their meeting, held on Friday, 16th September, 2011, at 10:00 a.m. at registered office of the company, Plot.No.26 and 26/1.Sector 12-D, North Karachi Industrial Area. Karachi, have discussed and approved the financial results of the Company for the year ended on June 30, 2011.

The Financial results of the company are as follows:

 

June 30, 2011

June 30, 2010

(Rupee ’000’)

(Rupees ’000’)

Sales474,758471,199
Cost of goods sold(411,595)(412,715)
———–———–
Gross profit63,16358,485
Operating expenses(41,506)(42,601)
Net Profit after tax1,6132,350
Un-appropriated profit B/F8,050 7,700
un-appropriated profit C/F9,6638,050
Earning per share (Rupees)0.400.59

 

 

A complete Profit and Loss statement for the year ended June 30, 2011 is attached.

The Annual general meeting of the Company will be hold on Monday, 24th October, 2011 at 2:00 P.M. at Carlton hotel. Zulfiqar Street, Phase-VIII, Defense Housing Authority, Karachi.

The Share transfer book of the Company will remain closed from 14th October, 2011 to 24th October, 2011 (Both days inclusive).

Profit and Less Account for the year ended June 30,2011

 

2011

2010

Rupees

Rupees

Sales474,758,382471,199,381
Cost of sales(411,595,317)(412,714,715)
 ———–———–
Gross profit63,163,06558,484,666
Distribution cost11,548,72012,218,270
Administrative expenses29,956,94330,383,151
 ———–———–
 41,505,66342,601,421
———–———–
21,657,40215,883,245
Other operating (loss) / income(476,386)519,460
Other operating .expenses(760,505)(1,098,807)
———–———–
Operating profit20,420,51115,303,898
Finance cost (13,725,039)(8,253,032)
———–———–
Profit before taxation6,695,4727,050,866
Taxation (5,082,408)(4,701,137)
———–———–
Profit for the year1,613,0642,349,729
Other comprehensive income--
 ———–———–
Total comprehensive income1,613,0642,349,729
Un-appropriated profit B/F8,050,1037,700,374
Transferred to General Reserve-(2,000,000)
———–———–
Un-appropriated profit C/F 9,663,1678,050,103
———–———–
Earning per share-basic and diluted0.40 0.59

 

For more information, contact:
Safa Textile Mills Limited
20 Sasi Town House,
Abdullah Haroon Road Karachi,
Tel: (+92) 21-35653261-3
Fax: (+92) 21-35215103