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Dewan Mushtaq 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 06:30 p.m. at 7th Floor, Block-A, Financial & 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

1,401,777,405

1,504,372,543

Cost of Sales

(1,352,881,358)

(1,473,868,870)

————-

————-

Gross Profit

48,896,047

30,503,673

Administrative and General Expenses

(34,421,461)

(27,898,620)

Distribution Costs and Selling Expenses

(5,996,617)

(4,876,336)

————-

————-

(40,418,078)

(32,774,956)

————-

————-

Operating Profit/ (loss)

8,477,969

(2,271,283)

Other Income

313,487

529,167

Finance Cost

(11,108,940)

(299,123)

————-

————-

(Loss) before taxation

(2,317,484)

(2,041,239)

Taxation
-Current

(14,018,985)

(15,696,335)

-Deferred

34,518,428

28,725,622

————-

————-

20,499,443

13,029,287

————-

————-

Profit after taxation

18,181,959

10,988,048

————-

————-

Earning Per Share – Basic

5.29

3.20

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:
Mehmood-ul-Hassan Asghar
Chief Financial Officer
Dewan Mushtaq Textile Mills Limited
Registered Office: Finance and Trade Centre (FTC),
8th Floor, Block-A, Shahra-e-Faisal,
Karachi-Pakistan.
UAN: (+92-21) 111-364-111
Fax: (+92-21) 5630860
Web: www.dewangroup.com.pk

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