Pakistan Cables Limited’s financial results for the year ended June 30, 2011

Pakistan Cables 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 at 10:00 a.m. on Wednesday the 10th August, 2011 at 101-Beaumont Plaza, 10 Beaumont Road, Karachi has recommended the following:

(i)  Cash Dividend

A final Cash Dividend for the year ended June 30, 2011 @ Rs. 2.00 per share i.e. 20%.

The financial results of the Company are as follows:

 

Year ended

Year ended

June 30, 2011

June 30, 2010

(Rupees in ‘000)

Net sales 4,096,391 3,798,847
Cost of sales (3,576,776) (3,386,498)
——— ———
Gross profit 519,615 412,349
Selling costs (161,885) (118,590)
Administrative expenses (101,660) (67,691)
——— ———
(263,545) (186,281)
——— ———
256,070 226,068
Other operating expenses (17,127) (36,377)
Other operating income 11,730 8,017
——— ———
(5,397) (28,360)
——— ———
250,673 197,708
Finance expenses (95,932) (154,484)
Share of profit from associates 7,941 9,082
Impairment loss on investments (16,000)
——— ———
Profit before income tax 146,682 52,306
Taxation (61,000) (6,800)
——— ———
Profit for the year 85,682 45,506
——— ———
Earnings per share–basic and diluted Rs.3.34 Rs. 2.12

 

The Annual General Meeting of the Company will be held on Wednesday the 28th September 2011 at 11:00 am at the Auditorium, Institute of Chartered Accountants of Pakistan, Chartered Accountants Avenue, Clifton, Karachi.

The above entitlement, if approved by the shareholders, will be paid to the shareholders whose names will appear in the Register of Members on September 28, 2011.

The Share Transfer Books of the Company, will be closed from September 15, 2011 to September 28, 2011 (both days inclusive). Transfers received at the office of our share registrar THK Associates (Private) Limited, Ground Floor, State Life Building # 3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on September 14, 2011 will be treated in time for the purpose of above entitlement to the transferees.

 

For more information, contact:
Aslam Sadruddin
Finance Director and
Company Secretary
Pakistan Cables Limited
P.O. BOX NO. 5060, B-21, S.I.T.E.,
Karachi-75700,
Pakistan.
Tel: 32561170-75
Email: info@pakistancables.com
Web: www.pakistancable.com

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