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Southern Electric Power Company Limited’s financial results for the year ended June 30th 2011

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by September 30, 2011 Financial Results

Karachi: We have to inform you that the Board of Directors of Southern Electric Power Company Limited (SEPCO) in their meeting held on Friday, September 30th 2011 at 10:00 hours recommended the followings.

 

1. Cash Dividend Nil
2. Bonus Issue Nil
3. Right Shares Nil

 

The financial results of the Company are as follows:

 

2011

2010

Rupees ’000

Rupees ’000

Turnover 7,457,641 6,478,979
Less: Sales tax (877,819) (636,647)
 ——— ———
Net turnover  6,579,822 5,842,332
Cost of sales (6,425,944)  (4,691,971)
——— ———
Gross profit 153,878 1,150,361
Administrative expenses  (499,727)  (56,018)
Liquidated damages (2,597,825)
Finance cost  (1,048,433) (987,884)
Other operating income 74,291 15,223
——— ———
Net (loss) / profit before taxation (3,917,816) 121,682
Provision for taxation- prior year (4,316)  (69,000)
 ——— ———
Net (loss) / profit after taxation (3,922,132)  52,682
 ——— ———
(Loss) / Earning per share – basic and diluted (Rupees)  (28.70) 0.39

 

Annual General Meeting

The Board intends to call the 17th Annual General Meeting of shareholders of the Company on Monday, October the 31st 2011 and the approval of this date is hereby requested.

Book Closure

The Share Transfer Books of the Company will remain closed from Monday, October 24th 2011 to Monday, October 31st 2011 (both days inclusive) for the purpose of attendance in AGM. Transfers received at Share Registrars Office of the Company “CORPLINK (PVT.) LTD., Wings Arcade 1-K, Commercial, Model Town, Lahore at the close of business hours on Saturday, October 22, 2011 will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Salman Rahim
Company Secretary
Southern Electric Power Company Limited
No. 38, First Street, F-6/3,
Islamabad- 44000, Pakistan
Tel: (92-51) 227 9230
Fax: (92-51) 282 5465

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