Home / Financial Results / N.P. Spinning Mills Limited’s financial results for the year ended 30, 2011

N.P. Spinning Mills Limited’s financial results for the year ended 30, 2011

Karachi: In compliance with the listing regulations of the Exchange, we have to inform you that the Board of the Directors of the Company in its meeting held on October 04, 2011 at 3:30 p.m. at its Registered Office (Karachi) has recommended payment of a final cash dividend at 12% (i.e. Rs. 1.20 per share) for the year ended June 30, 2011.

 

The financial results for the Company are as follows.

 

Amount in Rupees

June 30 2011

June 30 2010

Sales 2,092,185,251 1,630,783,207
Cost of Goods Sales (1,921,741,090) (1,452,038,665)
————– —————
Gross Profit 170,444,161 178,746,542
Other Operating Income 9,413,470 28,146,292
————– —————
179,857,631 206,892,834
————– —————
Distribution Cost 21,618,163 16,949,099
Administrative expenses 50,827,171 43,417,004
Other Operating expenses 8,707,555 15,820,996
Finance Cost 12,551,715 8,193,189
 ————– —————
 (93,704,604)  (83,925,288)
 ————–  —————
Profit before taxation 86,153,027  122,967,546
Provision for taxation  (30,110,137)  (40,565,469)
 ————– —————
Profit after taxation 56,042,890 82,402,077
Other Comprehensive income  –
————– —————
Total Comprehensive income for the year 56,042,890  82,402,077
————–  —————
Earning per share – basic and Diluted 3.81 5.61

 

Annual General Meeting

The 21st Annual General Meeting of the Company will be held INSHA-ALLAH on Saturday October 29, 2011at 9:30 a.m. at 7th Floor, Uni Tower I.I. Chundrigar Road, Karachi (Copy of formal notice of meeting enclosed).

Book Closure

The Share Transfer Books of the Company will be closed from October 25, 2011 to October 31, 2011 (Both Days Inclusive).

Notice of Meeting

Notice is hereby given that the 21st Annual General Meeting of the Shareholders of N. P. Spinning Mills Limited will be held INSHA-ALLAH on Saturday October 29, 2011 at 9:30 a.m. at 7th Floor, Uni Tower, I.I. Chundrigar Road, Karachi, to transact the following business:

1. To confirm the minutes of last Annual General Meeting held on October 30, 2010.

2. To receive, consider and adopt the Audited Accounts for the year ended June 30, 2011 together with Directors and Auditors reports thereon.

3. To approve 12% cash dividend (i.e. Rs. 120 per share) as recommended by the Directors.

4. To appoint auditors for the year ending June 30, 2012 and fix their remuneration. The retiring auditors M/s. M. Yousuf Adil Saleem and Co., Chartered Accountants, being eligible, offer themselves for re-appointment.

5. To transact any other business with the permission of the Chair.

Notes:

1. The Share Transfer Books of the Company will remain closed from October 25, 2011 to October31, 2011 (both days inclusive).

2. A member entitled to attend and vote at this meeting is entitled to appoint another member as a proxy to attend and vote on his / her behalf. Proxies must be deposited at the registered office of the Company not less than 48 hours before the time of meeting.

3. The shareholders through CDC are requested to bring original CNIC, Account Number and Participant ID to facilitate identification and in case of proxy, must enclose an attested copy of CNIC. Representatives of Corporate Members should bring the usual documents, required for such purpose.

4. Physical shareholders are requested to send at the earliest copy of their valid CNIC directly to Company’s Share Registrar M/s. Noble Computer Services (Pvt.) Limited.

5. Change of address, if any, may please be notified immediately.

For more information, contact:
N.P. Spinning Mills Limited
703, UNI Tower, I.I. Chundrigar Road,
Karachi – Pakistan
Tel: +92-21 32427202
Fax: +92-21 32427207
Email: info@npsm.com.pk

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