Millat Tractors Limited’s financial results for the year ended June 30, 2011

Millat Tractors Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Tuesday, Aug 16, 2011 at 10:00 a.m. at the Company’s Corporate Office, 4th Floor, 83-A-E/1 Main Boulevard. Gulberg III, Lahore recommended the following:

Cash Dividend

A final Cash Dividend for the year ended June 30, 2011 @ Rs.15 per share i.e. 150%.This is in addition to interim dividend already paid @ Rs. 32.50 per share i.e. 325%.

The financial results of the Company are as follows:

 

(Rupees in thousand)

2011

2010

Sales-net 24,863,264 22,199,909
Cost of Sales 20,431,301 18,217,109
———- ———-
Gross Profit 4,431,963 3,982,800
Distribution and marketing expenses 540,461 546,976
Administrative expenses 306,877 292,340
———- ———-
847,338 839,316
———- ———-
Operating profit 3,584,625 3,143,484
Other Operating income 679,561 450,555
4,264,186 3,594,039
———- ———-
Finance Cost 9,562 9,498
Other Operating Expenses 340,340 247,920
———- ———-
349,902 257,418
———- ———-
Profit before taxation 3,914,284 3,336,621
Taxation 1,243,548 1,052,123
———- ———-
Profit after taxation 2,670,736 2,284,498
———- ———-
Earnings per share – basic and diluted  (Rs.) 72.96 62.41

 

The Annual General Meeting of the Company will be held on Thursday Sept 29, 2011 at 4:00 p.m. at the Registered Office of the Company, Sheikhupura Road, Shahdara, Lahore.

The above entitlement, if approved by the shareholders will be paid to the shareholders whose names will appear in the register of the Members on September 19, 2011.

The Share Transfer Books of the Company will be closed from September 20, 2011 to September 29, 2011 (both days inclusive).

For more information, contact:
Mian Muhammad Saleem
Company Secretary
Millat Tractors Limited
P.O. Box No. 12023, Sheikhupura Road,
Shahdara, Lahore, Pakistan.
Tel: 92-423-7911021-25,
UAN: 111-200-786
Fax: 92-423-7924166

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