Searle Pakistan Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of Searle Pakistan Limited (SEARL) in their meeting held on Friday, September 30, 2011 at 12:00 noon at Karachi have recommended the following:

1. Cash Dividend

A final cash dividend for the year ended June 30, 2011 @ Rs.1.50 per share i.e. 15%.

2. Stock Dividend

It has been recommended by the Board of Directors to issue bonus shares in the proportion of 10 shares for every 100 shares held i.e. 10%.

The financial results of the Company are attached herewith.

The Annual General Meeting (AGM) of the Company will be held on October 26, 2011 at 06:00 p.m. at the Institute of Cost and Management Accountants, Soldier Bazar Campus, Karachi,

The share transfer books of the Company will be closed from October 20, 2011 to October 26, 2011 (both days inclusive), Transfers received at the Gangjees Registrar Services (Private) Limited, Room it 515, 5th Floor, Clifton Centre, Kehkashan, Clifton, Karachi at the close of business on October 19, 2011 will be treated in time for the purpose of above entitlement to the transferees.

Searle Pakistan Limited

Profit and loss account for the year ended June 30, 2011

 

2011

2010

Note

Rupees in 000

Net sales254,238,8403,702,518
Cost of sales262,352,4302,028,729
———- ———-
Gross profit1,886,4101,673,789
Selling and distribution expenses271,005,244931,325
Administrative expenses28113,190 95,665
Amortization of intangible assets6 6,3934,298
———- ———-
1,124,8271,031,288
 ———-———-
Operating Profit29761,583642,501
Other operating income30115,06562,634
 ———- ———-
876,648705,135
Other operating expenses
- Finance cost31313,878111,905
- Other charges3253,54949,736
———-———-
367,427161,641
  ———- ———-
Profit Before Income Tax509,221543,494
Income tax expense33141,262186,330
———-———-
Profit for The Year367,959 357,164
 ———- ———-
Rupees
Earnings per share – Basic and Diluted3412.01 11.66

 

The annexed notes 1 to 44 form all integral part of these financial statements.

For more information, contact:
Searle Pakistan Limited
First Floor, N.I.C. Building
Abbasi Shaheed Road,
P.O. BOX 5696,
Karachl-75530
Tel; 35674321 (8 lines)
Tel: 35674321
Fax: 92-21-35687693