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Financial Results

Huffaz Seamless Pipe Industries Limited’s financial for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Sunday 09-10 2011 at 1600 hrs at Registered, office 207-210, Mashriq Centre Block – 14, Gulshan-e-Iqbal Karachi, recommended the followings.

(i) Cash Dividend

A Final Cash Dividend for year ended June 30, 2011 at Rs. NIL % per share i.e. %. This is in addition to interim Dividend(s) already paid at Rs.1-5%-per share i.e. 15%.

AND/OR

(ii) BONUS SHARES

It has been recommended by the Board of Directors to issue Bonus shares in the proportion at NIL share(s) for every NIL share(s) held i.eN1L%. 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 shares being declared simultaneously will be/will not be applicable on Bonus shares as declared above.

AND/OR

(iv) ANY OTHER ENTITLEMENT /CORPORATE ACTION         NIL

AND/OR

(v) ANY OTHER PRICE-SENSITIVE INFORMATION            NIL

The Financial results of the Company are as follows:

Huffaz Seamless Pipe industries Limited

Profit and Loss Account

For the year ended 30 June 2011

 

2011

2010

(Restated)

Note

(Rupees in `000)

Net sales 25 1,455,071  1,285,301
Cost of sales 26 (1,368,619) (976,326)
——— ———
Gross Profit 86,452  308,975
Selling and distribution cost 27  (16,159) (4,062)
Administrative expenses 28 (52,397) (42,045)
 (68,556) (46,107)
——— ———
17,896 262,868
Other operating charges 30 (6,214) (14,551)
Other operating income 31 24,717  1,666
 ———  ———
36,339  249,983
Finance cost 29 (74,805)  (38,830)
 ———  ———
(Loss) / Profit before taxation (38,466) 211,153
Taxation 32 19,966  (81,877)
———  ———
(Loss) / Profit after taxation  (18,500)  129,276
——— ———
(Loss) / earning per share – basic and diluted  33 (0.33) 2.33

 

The Annual General Meeting of the Company will be held on 31-10-2011 at 1630 hrs at CIVIC LAWN (A) Block-17 Gulshan-e-Iqbal opp. Mushriq Centre Karachi.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on 31-10-2011.

The share transfer Books of the company will remain closed from 21-10-2011 to 31-10-2011 (both days inclusive). Transfer received at the Company’s Registrar office M/s Gangjees Registrar Services (Pvt) Ltd. 516 Clifton Centre Khayahan-e-Roomi Block-5, Clifton Karachi, at the close of Business 20-10-2011 will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Syed Zakir Ali
Company Secretary
Huffaz Seamless Pipe Industries Limited
207-210, 2nd Floor, Mashriq Centre,
Gulshan-e-Iqbal, Block – 14,
Karachi – 75300,
Pakistan.
PABX: 92-21-34146241
Fax: 92-21 34146219
Email: huffaz@cyber.net.pk
Web: www.huffaz.com.pk

huffaz-seamless-pipe-industries-limited%e2%80%99s-financial-for-the-year-ended-june-30-2011

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