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Pace (Pakistan) Limited’s financial results for the period ended 30 September 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on 27 October 2011 at 03:00 p.m. at Lahore have recommended the following:

Bonus Snares        Nil
Cash Dividend       Nil
Right Issue         Nil

Financial Results:

The financial results of the Company are as under:

Profit and Loss Account for the period ended 30 September 2011

 

September, 30

2011

2010

(Rupees in thousands)

Sales 72,252  227,958
Cost of sales   (93,991)  (194,526)
 ——- ——-
Gross (loss) / Profit  (21,739) 33,432
Administrative and selling expenses (74,092)  (59,663)
Other operating income  9,437 2,796
Other operating expenses  (23,084)
 ——-  ——-
Loss from operations (109,478) (23,435)
Finance costs  (119,089) (83,311)
Changes in fair value of investment property  (388,505)  –
 ——- ——-
Loss before tax  (617,072)  (106,746)
Taxation  (250) (2,140)
——-  ——-
Loss for the period  (617,072) (106,886)
Other comprehensive income/ (loss)
Changes in fair value of available for sale investments  293 (1)
 ——- ——-
Total comprehensive loss for the period (617,029) (108,887)
——-  ——-
Loss per share attributable to ordinary shareholders
-Basic loss per share       Rupees  (2.21) (0.39)
 ——-  ——-
-Diluted loss per share     Rupees (2.21)  (0.39)

 

Since the Company has not declared any payouts, therefore no book closure is required.

For more information, contact:
Shahzad Jawahar
Company Secretary
Pace (Pakistan) Limited
103-C/II, Gulberg-III,
Lahore-Pakistan
UAN: 92-42-111-111-603
PABX: (92 42) 35757591-94
Fax: (92 42) 35757590

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