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Pak Leather Crafts Limited’s financial results for the 1st quarter ended September 30, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on October 29, 2011 at 11.00 A.M. at Karachi, recommended the following:

(i) CASH DIVIDEND

An Interim Cash Dividend for the quarter ended September 30, 2011 at Rs. Nil per share i.e. Nil %. This is in addition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil %.

AND/OR

(ii) BONUS SHARES

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

AND/OR

(iii) RIGHT SHARES

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 share being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.

The financial results of the Company are as follows:

 

Quarter ended

Quarter ended

September 30,

September 30,

2011

2010

(Rs. in “000″)

(Rs. in “000″)

Sales – net  4,018 64,910
Cost of sales (4,944) (67,003)
——  ——
Gross (Loss) (926) (2,093)
Operating expenses (Admin and Selling) (974) (1,578)
—— ——
Operating (Loss)  (1,900)   (3,671)
Other operating Income  – 40
  ——  ——
Financial cost  (8,908)  (9,330)
 ——  ——
 (8,908)  (9,290)
(Loss) before taxation  (10,808) (12,961)
Taxation  (40)  (325)
 —— ——
(Loss) after taxation  (10,848) (13,286)
——  ——
(Loss) per share (Rupees) (3.19) (3.91)

 

For more information, contact:
Syed Asif Mahmood Rizvi
Company Secretary
Pak Leather Crafts Limited
15, Sector 7/A, Korangi Area,
Karachi, Pakistan.
Tel: 35064100-2
Fax: (92-21) 35060809
Email: info@pakleather.com

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