Home / Financial Results / Dewan Salman Fibre Limited’s Financial Results for the year ended June 30, 2011

Dewan Salman Fibre Limited’s Financial Results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on September 30, 2011 at 05:00 pm at 7th Floor, Block-A, Finance 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:

2011 2010
Rupees in 000
Sales 136,534 137,498
Commission
———– ————
Net sales 136,534 137,498
Cost of sales 1,140,019 1,409,779
———– ————
Gross loss (1,003,485) (1,272,281)
Distribution cost 14,253 15,283
Administration expenses 83,965 77,526
Less: Amortization of negative goodwill (5,779)
———– ————
98,218 87,030
———– ————
Operating loss (1,101,703) (1,359,311)
Finance cost 13,245 125,725
Provision for doubtful advances /debts 61,660 21,445
Provision for obsolescence / slow moving stocks 220,270 148,584
(Reversal) for Impairment in value of investment (7,772)
Other (income) (2,563)
———– ————
293,312 287,982
———– ————
Loss before taxation (1,395,015) (1,647,293)
Taxation
– Current 687
– Deferred (125,858) (118,308)
———– ————
(125,858) (117,621)
———– ————
Loss after taxation (1,269,157) (1,529,672)
———– ————
Loss per share – Basic (Rupees) (3.46) (4.18)
———– ————
Loss per share – Diluted (Rupees) (3.31) (3.98)

The Annual General Meeting of the Company will be held on Wednesday, October 26, 2011 at Karachi, Pakistan.

The Share Transfer Books of the Company will be closed from October 20, 2011 to October 26, 2011 (both days inclusive).

For more information, contact:
Haroon Iqbal
Director
Dewan Salman Fibre Limited
Finance and Trade Centre (FTC),
8th Floor, Block-A, Sharah-e-Faisal,
Karachi Pakistan
UAN: 92-21-111-364-111
Fax: 92-21-5630860

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