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Financial Results

Ideal Spinning Mills Limited’s financial results for the year ended 30 June, 2011

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

 

Proposed Dividend: 7.50% (Except Directors, Family Members and Spouse)
Right Share  Nil
Bonus Share Nil

 

Financial Results of the Company are as Follows:

 

2011

2010

(Rupees in thousands)

Sales 2,374,878  1,475,987
Cost of Sales (2,061,916) (1,246,183)
 ——— ———
Gross Profit 312,962 229,804
Distribution Cost (20,005)  (8,287)
Administrative Expenses  (42,664) (36,092)
Other Operating Expenses  (13,472)  (8,673)
——— ———
 (76,141) (53,052)
  ———  ———
236,821 176,752
Other Operating Income  1,655  1,000
——— ———
Profit from Operations 238,476 177,752
Finance Cost (60,477) (60,729)
                                ———  ———
Profit before Taxation 177,999 117,023
Provision for taxation (84,840) (39,078)
 ———  ———
Profit after Taxation  93,159  77,945
———  ———
Earnings per Share
– Basic and Diluted  9.39 7.86

 

Our 23rd Annual General Meeting is going to be held at Bagh-e-Zehra Building. GK-7, 60 Bagh-o-Zehra Street Kharadar, Karachi-74000 cm October 31, 2011 at 10:00 A.M. The Share transfer books of the company will remain closed from October 24, 2011 to November 01, 2011 (both days Inclusive).

For more information, contact:
Ideal Spinning Mills Limited
1088/2 Jail Road,
Faisalabad-Pakistan
Tel: 041-2634902
Fax: 041-2626833

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