Nishat (Chunian) Limited’s financial results for the year ended 30 June 2011

Nishat (Chunian) Limited’s financial results for the year ended 30 June 2011

Karachi: It is to inform you that the Board of Directors of Nishat (Chunian) Limited (NCL) in their meeting held at 11:30 am on October 8, 2011 at Registered Office, 31-Q, Gulberg II, Lahore, has recommended the following of the year ended 30 June 2011.

Cash dividend:

Ordinary Shares @ 20% Final Cash Dividend    (i.e. Rs. 2.00 per share) Preferential Shares: 15% Preferential Cash Dividend (i.e. Rs. 1.50 per share)

Bonus:     Nil

Right:     Nil

The financial results of the Company are as follows:

 

30 June 2011

30 June 2010

Rupees

Rupees

Sales 20,322,001,699 13,343,539,563
Cost of sales 16,913,477,416 10,661,332,976
————–  ————–
Gross profit 3,408,524,283 2,682,206,587
Distribution cost 599,586,283 438,360,713
Administrative expenses 126,091,916 111,713,760
Other operating expenses 141,287,624 81,833,501
 ————– ————–
886,965,823 631,907,974
————– ————–
2,541,558,460 2,050,298,613
Other operating income 603,629,611 186,371,206
————–  ————–
Profit from operations 3,145,188,071  2,236,669,819
Finance cost 1,482,399,433 1,101,054,097
 ————– ————–
Profit before taxation 1,662,788,638 1,135,615,722
Taxation 204,208,921 133,782,914
 ————–  ————–
Profit after taxation 1,458,579,717 1,001,832,808
————–  ————–
Basic earnings per share 9.07 8.49
————–  ————–
Diluted earnings per share 8.82 6.59

 

The Annual General Meeting of the Company will be held at 11.30 am, on October 31, 2011 (Monday) at Registered Office of the Company, 31-Q, Gulberg II, Lahore.

The Share Transfer Books of the Company will remain closed from October 29, 2011 to November 04, 2011 (both days inclusive). Transfers received at the share registrar of the Company M/s Hameed Majeed Associates (Pvt.) Ltd. H.M. House, 7-Bank Square, Lahore up to close of office timings on October 28, 2011 will be treated in time for the purpose of attending the AGM and also for the entitlement to the transferees.

For more information, contact:
Ahmad Subhani
Company Secretary
Nishat (Chunian) Limited
31-Q, Gulberg II,
Lahore- 54660,
Pakistan
Tel: 92-42-35878696

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