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Financial Results

Sargodha Spinning Mills Limited’s financial results 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 at 11:30 a.m. on Wednesday, October 5, 2011 recommended no Cash Dividend, Bonus or Right Issue of the Shares.

The financial results of the Company are as follows:

 

(RUPEES IN THOUSAND)

Year Ended

Year Ended

30-06-2011

30-06-2010

SALES 3,499,736 1,928,141
COST OF SALES  (3,243,996) (1,638,531)
——— ———
GROSS PROFIT 255,740 289,610
DISTRIBUTION COST (90,343) (57,966)
ADMINISTRATIVE EXPENSES (35,533) (26,895)
OTHER OPERATING EXPENSES (4,848)  (10,676)
 ——— ———
 (130,729) (95,538)
 ——— ———
125,011 194,072
OTHER OPERATING INCOME 17,664 18,678
——— ———
PROFIT FROM OPERATIONS 142,675 212,750
FINANCE COST   (96,357)  (77,694)
 ——— ———
PROFIT BEFORE TAXATION  46,318  135,056
PROVISION FOR TAXATION (31,290) (15,043)
 ——— ———
PROFIT AFTER TAXATION 15,028 120,013
———  ———
EARNINGS PER SHARE – BASIC AND DILUTED (RUPEES)  0.48 3.85

 

The Annual General Meeting of the Company will be held at 10:30 a.m. on October 31, 2011 at the Registered Office of the Company at A-601/B, City Towers, 6-K, Main Boulevard, Gulberg II, Lahore.

The Share Transfer Books of the Company will be closed form 25-10-2011 to 31-10-2011 (both days inclusive). Transfers received at Corplink (Pvt.) Limited, Wings Arcade, 1-K, Commercial, Model Town, Lahore, the Registrar and Shares Transfer Office of the Company by the close of business on October 24, 2011 will be treated in time.

For more information, contact:
Mian Farrukh Naseem
Director
Sargodha Spinning Mills Limited
A-601/B, City Towers,
6-K, Main Boulevard,
Gulberg II, Lahore.
Tel: (042) 35788758-59
Fax: (042) 35788718
Email: shadstm@brain.net.pk

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