International Industries Limited’s financial result and announcement of dividend

International Industries Limited’s financial result and announcement of dividend

Karachi: We are pleased to inform you that the Board of Directors of International Industries Limited (INIL) at their meeting held today, August 11, 2011 has decided as follows.

Financial Results:

The financial results for the year ended June 30, 2011 are as follows.

 

(Rs.000,s)

Consolidated  – I I L

I I L – Excluding Subsidiary

30-06-2011 20-06-2010 30-06-2011 30-06-2010
Net sales 15,992,338 13,471,783 15,850,755 13,471,783
Cost of Sales (13,829,976) (11,249,674) (14,038,750) (11,249,674)
———- ———- ———- ———-
Gross Profit 2,162,362 2,222,109 1,812,005 2,222,109
Selling and distribution expenses (445,793) (384,019) (418,998) (384,019)
Administrative expenses (275,891) (134,890) (197,579) (134,890)
Financial Charges (882,260) (257,090) (578,890) (257,090)
Other Operating Charges (191,504) (227,292) (219,690) (227,292)
Share of Profit in equity accounted investment 1,951 4,755
Other Operating Income 211,508 135,698 872,265 120,503
———- ———- ———- ———-
Profit before Taxation 580,373 1,359,271 1,269,113 1,339,321
Taxation (264,653) (333,000) (239,000) (332,525)
———- ———- ———- ———-
Profit after Taxation 315,720 1,026,271 1,030,113 1,006,796
———- ———- ———- ———-
Earning per share – basic and diluted 2.35 8.56 8.59 8.40

 

Declaration and Notice of Book Closure

Dividend:

The Board of Directors have decided to recommend the payment of a final cash dividend for the year ended June 30, 2011 at Rs.3.50 per share, that is, 35%. This is in addition to 15% interim cash dividend already paid making a total of 50% for the year ended June 30, 2011.

Annual General Meeting:

The 63rd Annual General Meeting of the Company will be held on Thursday, September 15, 2011 at 10.00 a.m. at the Auditorium, Institute of Chartered Accountants of Pakistan, Chartered Accountant Avenue, Clifton, Karachi.

Book Closure:

The Share Transfer Books of the Company will remain closed from September 6, 2011 to September 15, 2011 (both days inclusive). Transfers received in order at the offices of our Shares Registrar M/s THK Associates (Pvt) Ltd., Ground Floor, State Life Building No. 3, Dr. Ziauddin Ahmed Road, Karachi by the close of business on September 5, 2011 or updated on Central Depository System as per CDC regulations, will be treated in time to establish the entitlement of 35% Final Cash Dividend.

 

For more information, contact:
Neelofar Hameed
Company Secretary
International Industries Limited
101 Beaumont Plaza, 10 Beaumont Road,
Karachi-75530,
Pakistan
Tel: (92 21) 111 019 019
Fax: (92 21) 3568 0373
Email: inqulries@iil.com
Web: www.iil.com.pk

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