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Merit Packaging Limited’s financial results for the year ended 30 June 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held on Thursday 18 August 2011 at 10:30 a.m. at the Registered office of the Company at Lakson Square, Building No.2, Sarwar Shaheed Road, Karachi has approved the audited financial statements for the year ended 30 June 2011,

 

The financial results of the Company are as follows:

 

2011

2010

Rupees

Sales – net 1,753,880,843 1,076,103,992
Cost of sales (1,589,456,196) (984,507,390)
————- ————-
Gross profit 164,424,647 91,596,602
General and administrative expenses (30,245,972) (24,486,611)
Selling expenses (23,115,913) (17,856,194)
Other operating income 4,647,552 1,693,386
Other operating expenses (3,893,230)  (2,730,501)
————- ————-
 (52,607,563) (43,379,920)
 ————- ————-
Operating profit 111,817,084  48,216,682
Financial charges (95,194,754) (76,997,121)
 ————- ————-
Profit/ (loss) before taxation 16,622,330  (28,780,439)
Taxation (6,347,021) 10,088,710
————- ————-
Profit /(loss) for the year 10,275,309 (18,691,729)
————- ————-
Earnings /(loss) per share -basic and diluted 2.17 (3.94)

 

The Annual General Meeting of the Company will be held on Tuesday 27 September 2011 at 10:00a.m. at Avari Towers Hotel, Fatima Jinnah Road, Karachi.

The Share Transfer Books of the Company will be closed from 21 September 2011 to 27 September 2011. (both days inclusive). Transfers received by the Company’s Shares Registrar M/s. FAMCO Associates (Pvt.) Ltd., State Life. Building No.1-A, 1st Floor, I. I .Chundrigar Road., Karachi upto the close of business on 20 September 2011 will be treated in time for the purpose of attendance of the Annual General Meeting.

We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange in due course of time.

For more information, contact:
Tasleemuddin A. Batlay
Director
Merit Packaging Limited
Registered Office & Corporate Department
Lakson Square, Building No.2, Sarwar Shaheed Road, Karachi-74200, Pakistan
Tel: 3569 8000
Fax: 92-21-3568 6571

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