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Financial Results

Sazgar Engineering Works 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 on Thursday, August 25, 2011 at 10:00 A.M at 111 – Ali Town, Thokar Niaz Baig, Raiwind Road, Lahore, recommended the following:

1. Final Cash Dividend

A final Cash Dividend for the year ended June 30, 2011 at Re.1/- per share i.e. 10%. This is in addition to Interim Dividend already p4id at Re. 1/- per share i.e. 10%.

2. Bonus Shares

It has been recommended by the Board of Directors to issue Bonus shares in the proportion of 20 ordinary shares for every 100 ordinary shares held i.e. 20%. These Bonus shares shall rank pari passu with the existing shares of the company but shall not be entitled to receive the cash dividend declared for the year ended June 30, 2011.

3. Right Shares                                                    Nil

4, Any Other Entitlement/Corporate Action                          Nil

5. Any Other Price – Sensitive Information                         Nil

6. Financial Results

The financial results of the company are attached as per annexure – 1.

The Annual General Meeting of the Company will be held on September 28, 2011 at 10:30 AM, at Four Seasons Banquet Hall, 0.5 1CM- Main Raiwind Road, Thokar Niaz Baig, Lahore.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on close of business on 21 September 2011.

The Share Transfer Books of the Company will be closed from 22nd September 2011 to September 2011 (both days inclusive). Transfers received at the share registrar M/s Corp Tee Associates (Pvt.) Ltd, 7/3 – G, Mushtaq Ahmed Gurrnani Road, Gulberg-II, Lahore at the dose of business on 21 September 2011 will be treated in time for the purpose of above entitlement to the transferees.

Sazgar Engineering Works Limited

Profit and Loss Account

For The Year Ended June 30, 2011

 

2010

2010

Rupees

Rupess

Sales – Net 2,542,525,796 1,823,973,707
Cost of Sales 2,271,876,164 1,638,033,502
————–  —————
Gross Profit  270,649,632 185,940,205
Distribution cost 52,582,383 40,379,786
Administrative expenses 44,028,529 41,070,863
Other operating expenses 12,702,515 13,972,969
————– —————
109,313,427 95,423,618
 ————–  —————
161,336,205 90,516,588
Other Operating Income 1,906,924 1,167,823
 ————– —————
163,243,129 91,684,411
Finance Cost 15,479,586 11,899,477
 ————–  —————
Profit Before Taxation 147,763,543 79,784,934
Taxation 56,539,717 31,791,174
————– —————
Profit After Taxation 91,223,826 47,993,760
————– —————
Earnings per Share – Basic and Diluted 6.09  3.20

 

Approval of Date and Time for Holding the Annual General Meeting For The Year Ended June 30, 2011
We intend to hold our Annual General Meeting on September 28, 2011 at 10:30 A.M. at Four Seasons Banquet Hall, 0.5 KM., Main Raiwind Road, Thokar Niaz Baig, Lahore.

For more information, contact:
Sazgar Engineering Works Limited
171-Ali Town, Thokar Niaz Baig
Raiwind Road, Lahore. Pakistan
Ph: +92-42-35312125-7
Fax: +92-42-35312128
E-mail: Sazgar@brain.net.pk
URL: WWW.sazgar.com.pk

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