Pak Leather Crafts Limited’s financial results for the year ended June 30, 2011

Pak Leather Crafts 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 October 06, 2011 at 11.00 am at Karachi, recommended the following

(i) Cash Dividend

A final Cash Dividend for the year ended June 30, 2011 at Rs. Nil per share i.e. Nil %. This is in addition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil %.

(ii) Bonus Shares

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

(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 will be/will not be applicable on Bonus Shares as declared above.

The financial results of the Company are as follows:

 

Year ended

June30, 2011

Year ended

June30, 2010

(Rs. in “000″)

(Rs. in “000″)

Sales – net 93,142 180,114
Cost of sales (161,255) 228,454
——- ——-
Gross Loss  (68,113)  (48,340)
Operating exp(Admin, Selling  and Other) (13,764) (27,629)
 ——- ——-
Operating Loss  (81,877) (75,969)
Financial charges (44,587)  (39,081)
 ——- ——-
(126,464) (115,050)
Other Charges (85) (130)
Other income 30,558 136
 ——- ——-
Loss before taxation  (95,991)  (115,044)
Taxation  (1,008)  (1,441)
Loss after taxation (96,999)  (116,485)
  ——- ——-
Loss per share (Rupees) (28.53)  (34.26)

 

The Annual General Meeting of the Company will be held on 31-10-2011 at 11:00 a.m. at the Registered Office of the company at Plot No. 18, Sector 7 /A Korangi industrial Area Karachi .

The Share Transfer Books of the Company will be closed from 26-10-2011 to 31-10- 2011 (both days inclusive).

For more information, contact:
Syed Asif Mahmood Rizvi
Company secretary
Pak Leather Crafts Limited
Plot 15, Sector 7.A.
Korangi Industrial Area, Karachi. (Pakistan)
Tel: 35064100-2
Fax: (92-21) 35060809
Email: info@pakleather.com

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