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J.K. Spinning Mills Limited’s financial results for the year ended 30.06.2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on 05.11.2011 at 10.00 A.M. at registered office of the company, 3-1/A, Peoples Colony, Faisalabad, recommended the following:

(i) CASH DIVIDEND

The Board has recommended a Final Cash Dividend for the Year Ended 30-06-2011 at Rs.1 per share i.e. @ 10% to ordinary share holders except Directors, CEOs, their Spouses and associates etc. This is in addition to interim Dividend(s) already paid at Rs. 1 per share i.e.10%.

(ii) BONUS SHARES        AND / OR

It has been recommended by the Board of Directors to issue Bonus Shares in the proportion of NIL share(s) for every NIL share(s) held i.e. NIL%. This is in addition to the Interim Bonus Shares already issued@ NIL%.

(iii) RIGHT SHARES       AND / OR

The Board has recommended to issue NIL% Right Shares at par/at a discount/premium of Rs. NIL per share in proportion of NIL Share(s) for every NIL share(s). The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.

AND/ OR

(iv) ANY OTHER ENTITLEMENT/CORPORRATE ACTION  N/A

(v)  ANY OTHER PRICE-SENSITIVE INFORMATION    N/A

The financial results for the Company are as follows:

 

2011

2010

RUPEES

RUPEES

Sale  9,082,347,991 1,148,042,881
Cost of Sales 7,698,277,095 906,702,574
 ————- ————-
Gross profit 1,384,070,896  241,340,307
Trading Profit 382,139 3,097,373
 ————- ————-
Operating expenses 1,384,453,035 244,437,680
Distribution and selling 392,008,006 19,351,887
Administrative  116,567,026 26,664,277
 ————-  ————-
508,575,032  46,016,164
 ————-  ————-
Operating Profit 875,878,003 198,421,516
Other Charges
Finance Cost 322,851,631 71,254,019
Workers profit participation fund 27,266,393 6,358,375
Worker Welfare Fund  1,192,692 2,416,182
————- ————-
351,310,716 80,028,576
Other/ (Loss) Income  (7,698,506)  222,008
 ————-  ————-
Profit before taxation  516,868,781  118,614,948
Taxation 152,462,872 8,024,315
 ————-  ————-
Net Profit for the Year 364,405,909 110,590,633
 ————- ————-
Earnings Per Share-Basic 19.83  13.36
Diluted  5.98  13.36

 

The Annual General Meeting of the Company will be held on 30-11-2011 at 10:00 A.M. at the registered office of the company, 3-1/A, Peoples Colony, Faisalabad.

The Share Transfer Books of the Company will be closed from 26-11-2011 to 03-12-2011 (both days inclusive). Transfer received at (complete address of share department) the close of business on 25-11-2011 will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Syed Mansoor Naqvi
Director/ Company Secretary
J.K. Spinning mills Limited
3-1/A, Peoples Colony,
Jaranwala Road. Faisalabad Pakistan
Ph: 041-8713916, 8714437-8
Fax: 041-8711899, 8714438
Telex: 43450 ZTM PK
E-mail: jkgroup@jkgrop.net

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