Wazir Ali Industries Limited’s results for the year ended June 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on September 29, 2011 at 2:30 pm at F-33, Hub River Rod SITE, Karachi recommend the following.

 

(1)Cash DividendNil
(2)Bonus SharesNil
(3)Right SharesNil
(4)Any other Entitlement/Corporate ActionNil
(5)Any other Price-Sensitive InformationNil

 

The Financial results of the company are as follows:

 

Year ended

30 June

30 June

2011

2010

(Rupees in ’000’)

Continuing Operations
Revenue- net797,148 -
Cost of goods sold/services(658,456) -
 ——- ——
Gross profit138,692-
 ——-——
Administration expenses(14,800) (10,142)
Selling and Distribution expenses(36,214)-
Other operating expenses(11,429)(16,114)
 ——-——
76,249(26,256)
Other income 4,8261,833
——- ——
Operating profit (loss) 81,075(24,423)
Financial charges(66,089) (59,334)
 ——-——
Profit / (Loss) before taxation14,986(83,757)
Taxation – current and deferred(7,994)-
 ——- ——
Profit / (Loss) for the year from continuing operations6,992(83,757)
Discontinued Operations
Profit / (Loss) for the year from discontinued operation net of tax(54,876)8,448
——-——
Loss for the year(47,884)(75,309)
 (Rupees)
Loss per share – basic and diluted (5.99)(9.43)
——-——
Continuing operations
Earning / (Loss) per share – basic and diluted0.88 (10.49)

 

Consolidated Profit and Loss Account (Audited) for the Year Ended 30 June 2011

 

Year ended

30 June

30 June

2011

2010

(Rupees in ’000’)

Continuing Operations
Revenue- net797,148 -
Cost of goods sold/services(658,456) -
——-——
Gross profit138,692  -
Administration expenses(14,877) (10,195)
Selling and Distribution expenses(36,214) -
——- ——
Other operating expenses(1,799)
85,802(10,195)
Changes in fair value of investment property(4,899)-
Other Income4,8261,833
——-——
Operating profit/ (Loss)85,729 (8,362)
Financial charges(70,045) (66,815)
——-——
Profit/ (Loss) before taxation15,684 (75,177)
Taxation – current and deferred(6,280) -
——- ——
Profit/ (Loss) for the year from continuing operations9,404(75,177)
Discontinued Operations
Profit / (Loss) for the year from discontinued operation net of tax(54,876)8,448
——- ——
Loss for the year(45,472) (66,729)
 ——- ——

(Rupees)

Loss per share – basic and diluted(5.69) (8.36)
——-——
Continuing operations
Earning / (Loss) per share – basic and diluted1.18(9.41)

 

For more information, contact:
Abdus Samad
Chief Executive Officer
Wazir Ali Industries Limited
F-33, Hub River Road,
S.I.T.E. Karachi, Pakistan,
Phone: 021-32579683-7
Fax: 021-32563734