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Ashfaq Textile Mills Limited’s financial result for the year ended June 30, 2011

Karachi: We hove to confirm you that the Board of Directors of’ our Company in their meeting held on Tuesday. October 04, 2011 at 09 a.m. at Registered Office, 17 K. M. Jaranwala Road, Faisalabad, recommended the following:

1. Cash Dividend

A final Cash Dividend for the year ended NIL 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 %.

2. Bonus Issue

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 %.

3. 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 shares(s).  The entitlement of right shares being declared simultaneously will not applicable on bonus Shares as declared above.

4. Any Other Entitlement

5. Any Other Price-Sensitive Information

The financial results of the Company are as follows:

 

2011

2010

Rupees

Rupees

Sales 1,036,470,545 883,855,628
Cost of goods sold 912,843,113 777,918,836
 ————-  ———–
Gross Profit 123,627,432 105,936,792
Distribution Cost 42,447,737 41,029,684
Administrative Expenses 19,883,062 16,535,537
Other Operating Expenses  3,233,468  1,820,249
Finance Cost 17,374,461  25,264,943
 ————-  ———–
 82,938,728  84,650,413
 ————-  ———–
Profit before Taxation 40,688,704 21,286,379
Provision for Taxation 10,958,603  8,534,437
Profit for the Year 29,730,101 12,751,942
————- ———–
Earning per share – Basic  4.25 1.82

 

The Annual General Meeting of the company will be held on Monday, October 31, 2011 at 09.00 am. At Registered Office: 17 K. M. Jaranwala Road, Faisalabad.

The Share Transfer books of the company will be closed from October 23, 2011 to October 31, 2011 (Both days inclusive). Transfers received at the 17 K. M. Jaranwala Road, Faisalabad, at the close of business on October 23, 2011 will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Waseem Ashfaq
Director
Ashfaq Textile Mills Limited
8-A, Office Colony No. 1,
Susan Road, Madina Town,
Faisalabad, Pakistan
Tel: +92-41-8740101/3
Fax: +92-42-8740106
E-mail: info@ashfaqtextile.com
Web: www.ashfaqtextile.com

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