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Dadex Eternit Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Diretors of our company in their meeting held on Octobor 04, 2011 at 10.30 a.m. at Dadex House, 34-A/1, BIock-6, P.E.C.H.S , Shahrah-e-Faisal, Karachi recommended the following:

I.  CASH DIVIDEND  NIL

II.  BONUS SHARES  NIL

III. RIGHT SHARES  NIL

IV. GENERAL RESERVE NIL

V. The financial results of tho company are as follows:

 

June 30,

June 30,

2011

2010

Rupees

(Restated)

Turnover-net 2,088,451  2,101,734
Cost of sales (1,680,378) (1,635,833)
 ———  ———
Gross profit 406,073 465,901
Distribution Cost (281,455) (268,019)
Administrative expenses (102,987)  (121,580)
Other operating expenses  (11,289)  (20,600)
Other operating Income 36,682  38,445
 ——— ———
Operating profit  47,024  94,147
Finance cost (57,348) (74,243)
Share of profit on investment in an associate 775 80
———  ———
(Loss)/ profit for the taxation (9,549) 19,984
Taxation (9,401)  (9,968)
——— ———
(Loss) / profit for the year  18,960 10,016
 ——— ———
Rupees
(Loss)/ earning per share – Basic and diluted (1.76) 0.93

 

The Annual General Meeting of the Company will be held on Octobor 31, 2011 at 08:00 p.m. at Dadox House, 34-A/1, Block-5, P.E.C.H.S., Shahrah-e-Faisal, Karachi-75400.

The remuneration paid to General Manager Business Development in the years 2009 and 2010 has not been reflected in these financial statements, approval of which has been restrained by an order of the Honourable High Court of Sindh (Court) dated April 14, 2010

The Ragister of Members and the Share Transfer Books of the Company shall remain closed from October 24, 2011 to October 31, 2011 (both days inclusive). Transfers received in order of the office of our Share Registrar, M/S Gangjees Registrar Services (Pvt.) Limited., 516, Clifton Centre, Khayaban-e-Roomi, Block-5, Clifton, Karachi-75600 by the close of the business hours on October 22, 2011 will be treated in time for incorporating the change in the Register of Members as at October 24, 2011.

Entitlement  to attend, participate and vote at the 52nd Annual General Meeting will be according to the Register of Members as at October 24, 2011.

 

For more information, contact:
Zahid Mahmood
Company Secretary
Dadex Eternit Limited
34-A/1, Block-5,
P.E.C.H.S., Shahrah-e-Faisal,
Karachi-75400
Tel: 021 – 111 000789
Fax: 021 – 34315716
E-mail: info@dadex.com
Website: www.dadex.com

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