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Dewan 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 05:30 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

3,128,522,678

4,698,603,661

Cost of sales

3,249,536,096

4,689,552,196

————-

————-

Gross (Loss) / Profit

(121,013,418)

9,051,465

Operating expenses
Distribution cost and selling expenses

20,824,259

17,846,603

Administrative and general expenses

36,794,928

33,502,545

————-

————-

57,619,187

51,349,148

————-

————-

Operating Loss

(178,632,605)

(42,297,683)

Finance cost

143,876,678

19,820,521

Other charges

3,200,000

4,357,430

Other income

(8,184,015)

(924,210)

————-

————-

138,892,663

23,253,741

————-

————-

Loss before taxation

(317,525,268)

(65,551,424)

Taxation
– current

31,351,397

51,404,260

– Deferred

(11,777,518)

————-

————-

19,573,879

51,404,260

————-

————-

Loss after taxation

(337,099,147)

(116,955,684)

————-

————-

Loss per share – basic and diluted

(24.96)

(8.66)

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 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
Website: www.dewangroup.com.pk

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