Shield Corporation Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Tuesday September 20, 2011 at 11:00 am.at registered office situated at 509, Business Avenue, Block 6, P.E.C.H.S., Shahrah-e-Faisal, Karachi recommended the following:

 

1)Cash Dividend10%
2)Bonus SharesNil
3)Right SharesNil

 

The financial results as approved by the Board of Directors of the Company are as follows:

 

 2011 2010
 (Rupees) (Rupees)
Net sales 829,901,077 661,131,009
Cost of sales (624,047,664)(462,584,004)
 ———– ———–
Gross profit205,853,413198,547,005
Selling and distribution expenses(131,338,208) (128,994,609)
Administrative and general expenses (15,697,978) (14,121,680)
Other operating expenses(4,626,343) (3,802,253)
Other operating income1,501,896647,207
  ———–  ———–
Operating profit 55,692,780 52,275,670
Finance costs (15,331,314) (8,855,422)
 ———– ———–
Profit before taxation40,361,46643,420,248
Taxation (9,821,642) (21,285,357)
 ———– ———–
Profit after taxation30,539,82422,134,891
Other comprehensive income - -
 ———–———–
Total comprehensive income for the year30,539,82422,134,891
Un-appropriated profit brought forward49,831,31036,696,419
 ———–———–
Profit available for appropriation80,371,13458,831,310
Appropriation:
Cash dividend for the year June 30, 2010 @ 10%
(2009: Bonus Share @ 30% per share) (3,900,000) (9,000,000)
 ———– ———–
Un-appropriated profit carried forward76,471,13449,831,310
———–———–
Basic Earnings per Share 7.835.68

 

The Annual General Meeting of the Company will be held on Tuesday, October 25, 2011 at 3:00 p.m. at factory situated at 368/4 and 5, Landhi Industrial Area, Baldia Road, Karachi.

The share transfer book of the Company will be closed from October 19, 2011 to October 25, 2011 (both days inclusive). The member whose name appears in the register of members as at the close of business on October 18, 2011 will be entitled to the Dividend.

For more information, contact:
M. Zaid Kaliya
Company Secretary
Shield Corporation Limited
509, Business Avenue,
Block-B, P.E.C.H.S.,
Shahrah-e-Faisal,
Krachi-75400, Pakistan.
Tel: (92-21) 34385003-4