Aruj Garment Accessories Limited’s financial results for the year ended 30th June 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on 30th September 2011 at 11 AM at 2-KM off Raiwind. Manga Road, Raiwind, Lahore, recommended the following:

(i) Cash Dividend

An Interim Cash Dividend for the Year ended 30th June, 2011 at Rs. Nil per share i.e. Nil %. This is in addition to Interim Dividend 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 shares for every Nil shares 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 Ps. Nil .per share in proportion of Nil shares for every Nil shares.

(iv) Any Other Entitlement/Corporate Action        Nil

(v) Any Other Price-Sensitive Information          Nil

The Profit and Loss and Balance Sheet for the Year ended 30th June, 2011 are enclosed herewith.

The Annual General Meeting of the Company will be held on 29th October 2011 at 9:00 AM at the Registered office of the Company at 2-KM off Raiwind Manga Road, Raiwind, Lahore.

Statement of Financial Position as at June 30, 2011

 

		2011	2010
Equity and Liabilities	Note	Rupees	Rupees
Share Capital and Reserves
Share Capital
Authorized
8,000,000 (2010:8,000,000) ordinary
shares of Rs. 10/- each		80,000,000	80,000,000
		———–	———–
Issued, subscribed and paid up:	5	61,517,000	61,517,000
Retained earnings		27,418,749	18,339,661
		———–	———–
Total Equity		88,935,749	79,855,661
Non-Current Liabilities
Long-term finance	6	–	4,414,547
Liabilities against assets subject to
Finance lease	7	2,271,888	4,127,893
Loan from directors	8	29,833,132	32,071,182
Deferred liabilities	9	17,091,910	16,458,262
		———–	———–
		49,196,910	57,071,884
Current Liabilities
Trade and other payables	10	55,630,801	46,136,656
Accrued mark-up		2,038,816	1,710,878
Short-term finance-secured	11	42,698,721	49,188,301
Current portion of long term liabilities	12	4,207,124	10,938,752
Provision for taxation	13	3,963,876	3,487,678
		———–	———–
		108,539,338	112,062,265
Contingencies and Commitments	14	–	–
		———–	———–
		246,671,997	248,990,810
Assets
Non-Current Assets
Property, plant and equipment	15	114,527,076	105,273,203
Capital work in Progress	16	39,800,667	13,420,740
Long term Security deposits	16	1,215,450	1,600,450
Current Assets
Stores, spare parts and loose tools	17	262,622	360,651
Stock in trade	18	18,804,922	43,485,308
Trade debts	19	11,466,378	14,043,283
Loans and advances	20	40,041,584	16,340,191
Trade deposits and short term prepaym		2,335,759	3,691,473
Other receivables	22	5,369,773	22,413,219
Cash and bank balances	23	12,847,766	28,273,292
		———–	———–
		91,128,804	128,616,417
		———–	———–
		248,671,997	248,990,810

 

The annexed notes form an integral part of these financial statements.

Chief Executive

Director

Profit and Loss Account for the Year Ended June 30, 2011

 

		2011	2010
	Note	Rupees	Rupees
Sales- net	24	396,387,622	345,439,418
Cost of sales	25	356,438,791	314,182,885
		———–	———–
Gross profit		39,948,831	31,256,533
Operating expenses
Distribution and selling Cost	26	5,098,676	3,707,263
Administrative expenses	27	11,450,422	9,781,950
		———–	———–
		16,549,098	13,489,213
		———–	———–
Operating profit		23,399,733	17,767,320
Other operating expenses	28	724,257	509,585
Finance cost	29	9,883,535	10,696,319
Other operating income	30	968,935	272,700
		———–	———–
Profit before taxation		13,760,877	6,834,116
Taxation	31	4,681,789	3,344,928
		———–	———–
Profit after taxation		9,079,088	3,489,188
		———–	———–
Earnings per share – basic	32	1.48	0.57

 

The annexed notes form an integral part of these financial statements.

For more information, contact:
Aruj Garment Accessories Limited
2 KM, Off Raiwind Manga Road,
Raiwind, Lahore
Tel: +92-42-35393125-6
Fax: +92-42-35393127
Website: www.aruj.com
E-mail: info@aruj.com