Sui Northern Gas Pipelines Limited’s declaration of cash dividend for the year ended June 30, 2011

Karachi: We wish to inform you that the Board of Directors at its meeting held today i.e. Wednesday, September 22, 2011 have recommended cash dividend of Re. 1 per share @ 10% and bonus shares in the proportion of 5 shares for every 100 shares held i.e. 5% for the year ended June 30, 2011.

The Financial Results of the Company are enclosed (Annexure-I).

The Auditors have not made any qualification in their report, however, they have drawn the members attention to the Note No. 16.1 and 24.3 to the financial statements, details of which will be communicated while submitting the Animal Report to the Exchange.

The Annual General Meeting of the Company will be held on Monday, October 31, 2011 at 11:30 am at Hotel Avari, 87-Shahrah-e-Quaid-e-Azam, Lahore. The dividend, if approved by the shareholders at the said Annual General meeting will be paid to the shareholders whose names appear in the Register of Members as on Wednesday, October 19, 2011.

The Share Transfer Books of the Company will remain closed for 12 days from Thursday, October 20, 2011, to Monday, October 31, 2011 (both days inclusive). Share transfers received in order, at the office of our Shares Registrar, MIs Central Depository Company of Pakistan Limited (CUC), 2nd Floor? 307-Upper Mall, Near Mian Mir Bridge, Lahore or at the Registered Office of the Company, at the close of business, on Wednesday, October 19, 2011 will be treated in time for the purpose of entitlement of dividend.

 

Profit And Loss Account for the Year Ended June 30, 2011

 

20102010
Rupees in thousand
Gas sales185,060,783172,994,645
Add / (less): Differential margin /
(Gas development surcharge)2,776,818 (11,364,817)
 ————-————-
187,837,601161,629,828
Less: Cost of gas sales184,237,173156,016,865
————-————-
Gross profit3,600,4285,612,963
Other operating income8,664,1847,772,320
————- ————-
12,264,61213,385,283
Less:
Selling cost3,577,1492,092,261
Administrative expenses2,912,9042,147,649
————-————-
6,490,0534,239,910
————- ————-
Operating profit5,774,5599,145,373
Less:
Finance cost3,877,8334,650,154
Other operating expenses208,983615,500
————-————-
Profit before taxation and share of associate1,687,7433,879,719
Share in profit from associate – before tax-212
————-————-
Profit before taxation1,687,7433,879,931
Taxation562,7221,325,368
————-————-
Profit after taxation1,125,0212,554,563
 ————-————-
Earnings per share basic and diluted – (Rupees)2.054.65

 

For more information, contact:
Sui Northern Gas Pipelines Limited
Uzma Adil Khan
Company Secretary
Ph: 042-99201419
Fax: 042-99201317