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Dewan Khalid Textile Mills Limited’s financial results for the year ended June 30, 2012

Karachi, October 1, 2012 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on September 28, 2012 at 07:30 p.m. at 7th Floor, Block-A, Financial and Trade Centre, Shahrah-e-Faisal, Karachi, Pakistan, recommended the following:

(i) Cash Dividend                                      Nil

And/ Or

(ii) Bonus Shares                                      Nil

And/ Or

(iii) Right Shares                                     Nil

And/ Or

(iv) Any Other Entitlement/Corporate Action            Nil

And/ Or

(v) Any Other Price-Sensitive Information              Nil

The financial results of the Company are as follows:

2012

2011

Rupees

Sales- net

1,155,717,938

1,368,138,305

Cost of sales

(1,170,185,143)

(1,342,223,213)

————-

————-

Gross (Loss)/ Profit

(14,467,205)

25,915,092

Operating Expenses
Distribution Cost and Selling Expenses

(11,763,358)

(4,073,614)

Administrative and General Expenses

(27,354,553)

(25,851,905)

————-

————-

(39,117,911)

(29, 925,519)

————-

————-

Operating Loss

(53,585,116)

(4,010,427)

Finance Cost

(6,245,990)

(1,192,932)

————-

————-

Loss before Taxation

(59,831,106)

(5,203,359)

Taxation – Current

(11,558,346)

(14,242,566)

– Deferred

69,905,850

34,752,261

————-

————-

58,347,505

20,509,695

————-

————-

(Loss)/ Profit after Taxation

(1,483,601)

15,306,336

————-

————-

(Loss)/ Earning per Share – Basic

(0.26)

2.69

The Annual General Meeting of the Company will be held on Wednesday, October 24, 2012 at Karachi, Pakistan.

The Share Transfer Books of the Company will be closed from October 17, 2012 to October 24, 2012 (both days inclusive).

For more information, contact:
Haroon Iqbal
Director
Dewan Khalid Textile Mills Limited
Finance and Trade Centre (FTC),
8TH Floor, Block-A,
Shahrah-e-Faisal, Karachi, Pakistan
UAN: (92-21) 111-364-111
Fax: (92-21) 5630860,
Web: www.dewangroup.com.pk

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