Hum Network Limited’s financial results for the year ended 30th June, 2011

Hum Network Limited’s financial results for the year ended 30th June, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on October 06, 2011 at 04:00 pm at registered office of the company recommended the following:

i) Cash Dividend

A cash dividend for the year ended June 30, 2011 at Re.1.00 per share i.e.10% which shall also be deemed as the final cash dividend for the year ended June 30, 2011 as recommended and approved by the Board of Directors.

The above entitlement will be paid to the Shareholders whose names will appear in the Register of Members on October 21, 2011. The Share Transfer Books of the Company will be closed from October 22, 2011 to October 28, 2011 (both days inclusive) Transfers received at the share registrar office, M/s. Technology Trade (Private) Limited, Dagia House, 241-C Block-2, PECHS, Off. Shahrah-e-Quiadeen, Karachi at the close of business on October 21, 2011 will be treated in time for the purpose of above entitlement to the transferees.

And/ Or

ii) Bonus Shares:

It has been recommended by the Board of Directors to issue Bonus shares in proportion of Nil share(s) for every Nil share(s) i.e. Nil %. This is in addition to the Interim Bonus shares Already issued @ Nil %.

And/ Or

iii) Right Shares:

The Board has recommended to issue Nil % Right Shares at par / at a discount / premium of Rs. Nil per share in proportion of Nil share(s) for every Nil Share(s). The entitlement of right shares being declared simultaneously wilt be / will not be applicable on Bonus shares as declared above.

And/ Or

iv) Any Other Entitlement / Corporate Action:      Nil

And/ Or

v) Any Other Price-Sensitive Information

The financial results of the Company for the year ended 30th June, 2011 are as follows; –

 

June 30, 2011

June 30, 2010

Pak, Rupees

Revenue – net 1,436,505,007 1,284,272,631
Cost of production (664,837,084)  (528,558,737)
Transmission cost  (108,923,817)  (160,889,881)
 ————- ————-
 (773,760,901)  (689,448,618)
Gross Profit 662,744,106 594,824,013
Distribution costs  (161,642,712) (114,951,107)
Administrative expenses  (189,641,390) (155,622,190)
————- ————-
 311,460,004 324,250,716
Other operating income 32,041,451 24,156,831
 ————- ————-
343,501,455 348,407,547
Finance costs (38,768,670) (28,116,813)
Other Charges (7,005,008)  (6,471,318)
Profit before taxation 297,727,777  313,819,416
Taxation (108,925,441) (108,183,460)
Profit after taxation 188,802,336  205,635,956
Earnings per share-basic and diluted 3.78 4.11

 

The Annual General Meeting (AGM) of the Company will be held on Friday, October 28, 2011 at 02:30 pm at Moosa 0. Desai Auditorium, Institute of Chartered Accountants of Pakistan (ICAP), Chartered Accountants Avenue, Kehkashan, Clifton, Karachi.

The share Transfer Books of the Company will be closed from 22-Oct-2011 to 28-Oct-2011 (both days inclusive). Transfers received at the M/s, Technology Trade (Pvt.) Ltd, Dagia House, Plot # 241-C, Block-2, P.E.C.H.S. Karachi at the close of business on 21-Oct-2011 will be treated in time for the purpose of any entitlement to the transferees.

For more information, contact:
Hum Network Limited
10/11 Hassan Ali
Office. I.I. Chundrigar Road,
Karachi 74000

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