International Steels Limited’s financial results for the year ended 30-06-2011

International Steels Limited’s financial results for the year ended 30-06-2011

Karachi: We are pleased to inform you that the Board of Directors of International Steels Limited (ISL) at their meeting held today. August 8, 2011 has decided as follows:

Financial Results:

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

 

(Rs.000,s)
2011 2010
Sales (Net) 3,690,824
Cost of Sales (3,341,648)
——— ——
Gross Profit 349, 176
Administrative expenses (80,621) (12,394)
Selling and Distribution expenses (27,785)
Financial Charges (383,314) (320)
Other Operating Charges (40,558) (30)
Other Operating Income 121,070
——— ——
Loss before Taxation (62,032) (12,744)
Taxation (17,370)
——— ——
Loss for the year (79,402) (12,744)
——— ——
Loss per share-basic and diluted (0.22) (424.81)

 

Annual General Meeting:

The 4th Annual General Meeting of the Company will be held on Thursday, September 8, 2011 at 10.00 a.m. at the Auditorium, Institute of Bankers of Pakistan, M.T. Khan Road, Karachi.

Book Closure:

The Share Transfer Books of the Company will remain closed from August 29, 2011 to September 8, 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 August 27, 2011 or updated on Central Depository System as per CDC regulations, will be treated in time to establish the right to attend the 4th annual general meeting.

For more information, contact:
Neelofar Hameed
Company Secretary
International Steels Limited
Factory: No. 399-405, Rehri Road,
Landhi Industrial Area,
Karachi-75160, Pakistan
Phone: +92 21 3501-8104-5
Fax: +92 21 3501-3108

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