Pakistan State Oil Company Limited’s financial results for financial year ended June 30, 2011

Pakistan State Oil Company Limited’s financial results for financial year ended June 30, 2011

Karachi: We are pleased to inform you that the Board of Management of the Company, in their meeting held today at Karachi reviewed the Financial results of the Company and recommended the following:-

Cash Dividend

Final Cash Dividend for the financial year ended June 30, 2011 at the rate of Rs. 2/- per shares, equivalent 20%. This is in additions to already paid Interim dividends at Rs. 8/- per shares i.e. 80%.

Financial Results

The Financial results for the company are as follows:

 

Jul-Jun 2011 Jul-Jun 2010

Rupees ‘000

Gross sales 974,917,064 877,173,254
Sales tax and IFEM (154,386,700) (134,415,303)
———– ———–
Net sales 820,530,364 742,757,951
Cost of products sold (786,250,059) (713,591,707)
———– ———–
Gross profit 34,280,305 29,166,244
Other operating Income 1,815,951 1,479,054
———– ———–
36,096,256 30,645,298
Operating expenses (9,546,968) (8,080,568)
WPPF and WWF (1,332,154) (1,331,317)
———– ———–
(10,879,122) (9,411,885)
Other Income 4,143,710 6,095,348
———– ———–
Profit from operations 29,360,844 27,328,761
Finance Cost (11,903,162) (9,882,010)
———– ———–
17,457,682 17,446,751
Share of profit of associates 516,752 516,401
———– ———–
Profit before tax 17,974,434 17,963,152
Taxation (3,195,120) (8,913,556)
———– ———–
Profit after tax 14,779,314 9,049,598
———– ———–

Rs

Earning per shares 86.17 52.76

 

 

The share transfer books of the Company will remain close from Tuesday, September 06, 2011 to Tuesday September 13, 2011 (both days inclusive). Transfers received in order upto close of business on Monday, September 5, 2011 at the office of our Register. THK Associates (Pvt) Ltd. , Ground Floor, State Life Building No.3. Dr. Ziauddin Ahmed Road, Karachi, will be considered in time to be eligible for payment of final dividend to the transfers.

The Annual General Meeting of the Company will be held on Tuesday, September 29, 2011 at Karachi. Time and venue of the will be communicated later .

The Financial Statement of the company will be placed on the company website i.e. http://www.psopk.com and 300 copies will be sent to you for distribution amongst the members of the Exchange.

 

For more information, contact:
Ambreem Shah
Company Secretary
Pakistan State Oil Company Limited
PSO House, Khayaban-e-Iqbal, Clifton,
Karachi- 75600, Pakistan.
UAN: 111-111-PSO (776)
Web: www.psopk.com

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