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Financial Results

Prosperity Weaving Mills Limited’s financial results for the year 2010-11 ended on 26th June, 2011

Karachi: We have pleasure to advise that the Board of Directors at their meeting held today approved audited accounts of the Company for the year 2010-2011 ended on 30th June, 2011. A copy of profit and loss account is enclosed for your information.

Directors have the pleasure to declare final dividend  (Thirty five percent) i.e. Rs.3/50 (Rupees three and paisas fifty only) per ordinary share of Rs.10/- for the year 2010-2011 ended on 30th June, 2011.

The Dividend will be paid to the shareholders, whose names appear in the Register of Members on Thursday the 20th October, 2011.

The Share Transfer Books of the Company will be closed from 20th October, 2011 to 26th October, 2011 (both days inclusive). Valid transfers received in order by our Share Registrars, M/s. Hameed Majeed Associates (Pvt.) Ltd, 1st Floor, HM, House, 7-Bank Square, Lahore, at the close of business on Wednesday, the 19th October, 2011 will be treated in time for the purpose of payment of Dividend to the transferee(s).

20th Annual General Meeting of the Company will be held at 11:00 a.m. on Wednesday, the 26th October, 2011 at the registered office of the Company.

Profit and Loss Account for the Year Ended June 30, 2011





Sales – net 5,952,133,116 4,070,195,095
Cost of sales 5,467,126,053 3,670,925,523
————- ————-
Gross profit 485,007,063 399,269,572
Other operating income 4,503,129 16,672,938
————- ————-
489,510,192 415,942,510
Distribution cost 111,451,313 71,340,221
Administrative expenses 42,960,994 37,682,479
Other operating expenses 15,598,357 13,981,392
Finance cost 118,401,666 116,550,315
 ————- ————-
288,412,330 239,554,407
————- ————-
Profit before taxation 201,097,862 176,388,103
Provision for taxation 62,491,888 49,067,539
————-  ————-
Profit for the year 138,605,974 127,320,564
————-  ————-
Other comprehensive incomes
————- ————-
Total comprehensive Income for the year 138,605,974 127,320,564
————- ————-
Earnings per share – basic and diluted 7.50 6.89



For more information, contact:
Shaukat Ellahi Shaikh
Mg. Director / (Chief Executive)
Prosperity Weaving Mills Limited
Nagina House, 91-B-1, M.M. Alam Road,
Gulberg-III, Lahore – 54660, Pakistan.
Tel: (92-42) 5756270-77,
Fax: (92-42) 5711856,
E-mail: ellcot@brain.net.pk




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