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The General Tyre and Rubber Company of Pakistan Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of the Company in its meeting held on August 17, 2011 at 11.00 A.M. at Karachi approved the audited accounts of the Company for the year ended June 30, 2011. The Directors have recommended a final cash dividend for the year ended June 30, 2011, @ Rs. 2.5 per share, i.e. 25%.

The financial results of the Company are as follows:

 

Year Ended Year Ended
 30th June 2011 30th June 2010
(Rs. in 000) (Rs. in 000)
Net sales  7,477,695 6,355,293
Cost of sales 6,479,592 5,389,956
 ——— ———
Gross profit 998,103 965,337
Administrative expenses 101,755 87,950
Distribution cost 198,931 206,641
——— ———
300,686 296,591
——— ———
697,417  670,746
Other operating expenses  49,394 51,259
 ——— ———
648,023 619,487
Other operating income 65,132 49,715
 ——— ———
 713,155 669,202
Finance cost 318,633  259,916
———   ———
  394,522
Share of Profit from an associated Companies  836
   ——— ———
Profit before taxation 395,358  409,286
Taxation  136,758 190,960
 ——— ———
Profit after taxation  258,600  218,326
Other comprehensive income   –  –
 ———  ———
Other comprehensive income  258,600  218,236

 

The above figures do not reflect the recommended dividend of Rs. 2.5 per share for the year ended June 30, 2011, as the Company’s Accounting Policy is to recognize the dividend as liability in the period in which it is approved by the Shareholders.

The Annual General Meeting of the Company will be held at 12.00 a.m. on September 29, 2011, at Institute of Chartered Accountants of Pakistan Auditorium, Clifton, Karachi.

The Share Transfer Books of the Company will be closed from September 20, 2011 to September 29, 2011 (both days inclusive) Transfer received at the Company’s Share Registrar (i.e., Management and Registrar Services (Pvt.) Limited) at Business Executive Centre, F/17/3, Block 8, Clifton, Karachi at the close of Business on September 19, 2011 will be treated in time for the purpose of above entitlement to the transferees.

We shall be sending 200 copies of printed accounts for distribution amongst the members of the Exchange 21 days before the date of AGM.

 

For more information, contact:
Asif Jameel
Company Secretary
The General Tyre and Rubber Company of Pakistan Limited
H23/2, Landhi Industrial Trading Estate, Landhi, Karachi, Pakistan
Tel: +92 3508 0172 -81
Fax: +92 3508 0171

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