Al-Abid Silk Mills Limited’s results for the year ended on 30th June, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held at 11.00 A.M. on Thursday 29th September, 2011 recommended the following.

Cash Dividend

A final Cash dividend for the year ending 30.06.2011 @ Rs. Nil% per share which works out to Nil% of the Paid up Capital of the Company for the year interim Dividend has already been paid at Rs. Nil per share i.e. Nil %.

The financial results of the company are as follows.

 

	Year Ending 30.06,2011	Year Ending 30.06.2010
	Rupees	Rupees
Sales and services	10,481,908,852	10,826,885,480
Cost of sales	(9,141,739,776)	(9,506,907,621)
	————–	————–
Gross profit	1,340,169,076	1,319,977,859
Operating expenses
Distribution Cost	320,341,626	397,500,458
Administrative Expenses	279,745,957	248,562,126
Other operating expenses	13,617,841	15,401,551
	————–	————–
	(613,705,424)	(661,464,135)
	————–	————–
	726,463,652	658,513,724
Other income	6,798,985	4,198,818
	————–	————–
Profit from Operations	733,262,637	662,712,542
Finance cost	(548,449,086)	(453,691,493)
	————–	————–
Profit before taxation	184,813,551	209,021,049
Taxation – current	(107,022,439)	(110,391,293)
	————–	————–
Profit for the year after taxation	77,791,112	98,629,756
Other comprehensive income	–	–
	————–	————–
Total Comprehensive income for the year	77,791,112	98,629,756
	————–	————–
Earrings per share – basic and diluted	6.79	10.63

 

The Annual Genera Meeting of the Company will be held at 4.30 p.m. on October 27, 2011 at the Auditorium of the Institute of Chartered Accountants of Pakistan, G-31/8, Kehkashan, Clifton, Karachi.

The Share Transfer Books of the Company will be closed from October 20, 2011 to October 27, 2011 (both days inclusive).

 

For more information, contact:
S.M. Jawed Azam
Company Secretary
Al-Abid Silk Mills Limited
Phones: (92-21) 32560040-40
Fax No: (92-21) 32584718
E-mail: mail@alabid.com
URL: www.alabid.com