Shadman Cotton Mills Limited’s financial result for the half year ended 31st Dec. 2012

Karachi, June 10, 2013 (PPI-OT): We have to inform you that the Board of Directors of our Company in their Meeting held on 7th June, 2013 at 5:00 p.m. at 801-804, 8th Floor, Lakson Square Building No. 3 Block-A, Sarwar Shaheed Road, Karachi recommended the following:

i) Cash Dividend Nil
AND/OR

ii) Bonus Issue Nil
AND/OR

iii) Right Shares Nil
AND/OR

iv) Any Other Entitlement/ Corporate Action Nil

(v) Any Other Price Sensitive Information Nil

The financial results of the Company are as follows:


                                               Half Year ended                          Quarter ended
                                           Dec-12            Dec-11                Dec-12           Dec-11
                                           Rupees            Rupees                Rupees           Rupees

Sales and services                     2,651,683,198      1,810,883,200        1,498,853,606    1,035,469,147
Cost of Sales and services            (2,508,621,108)    (1,905,482,627)      (1,420,671,259)    (995,260,367)
                                       -------------      -------------        -------------    -------------
Gross Profit/ (Loss)                     143,062,090        (94,599,427)          78,182,347       40,208,780
Other Operating Income                    33,314,338          2,181,492           32,846,370          700,834
Distribution cost                        (31,218,235)       (14,299,130)         (21,355,445)      (6,782,372)
Administrative expenses                  (36,720,784)       (30,925,628)         (18,969,698)     (15,605,302)
Other operating expenses                  (4,924,132)           (37,500)          (4,584,615)         (37,500)
Finance cost                             (64,725,659)       (96,527,468)         (31,564,988)     (46,678,678)
                                       -------------      -------------        -------------    -------------
                                        (104,274,472)      (139,608,234)         (43,628,376)     (68,403,018)
                                       -------------      -------------        -------------    -------------
Profit/(Loss) before taxation             38,787,618       (234,207,661)         (34,553,971)     (28,194,238)
                                       -------------      -------------        -------------    -------------
Taxation:
Current year                             (21,210,877)       (18,060,932)         (12,427,050)     (10,250,872)
Prior year                                 1,647,802            784,294            1,647,802          784,294
Deferred tax                                     -           19,545,170           (5,746,000)      36,345,955
                                       -------------      -------------        -------------    -------------
                                         (19,563,075)         2,268,532          (16,525,248)      26,879,377
                                       -------------      -------------        -------------    -------------
Profit/(Loss) for the period              19,224,543       (231,939,129)          18,028,723       (1,314,861)
                                       -------------      -------------        -------------    -------------
Earning profit/(loss) per share                 1.09             (13.15)                1.02            (0.07)
                                       -------------      -------------        -------------    -------------

The share transfer books of the company will be closed from Nil to Nil (both days inclusive). Transfers received at the Technology Trade (pvt.) Ltd, 241-C, Block-2, P.E.C.H.S., Karachi at close of business on NIL will be treated in time for the purpose of above entitlement to the transferees.

We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange.

For more information, contact:
Company Secretary
Shadman Cotton Mills Limited
801-804, 8th Floor,
Lakson Square Building No. 3,
Block – A, Sarwar Shaheed Road, Karachi.
Ph: (92-21) 35220481-88,
Fax: (92-21) 35220495-96
E-mail: info@nadeem.com.pk