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Wednesday, August 16th, 2017

Packages Limited’s accounting year ended 31 December 2012

Be First!

Karachi, March 18, 2013 (PPI-OT): We are pleased to inform you that the Board of Directors of the Company in their meeting held today at Karachi recommended a cash dividend to the shareholders for approval at the Annual General Meeting as follows.

i) To the preference shareholder (international Finance Corporation) at the rate of Rs. 19.00 (10%) per preference share/convertible stock of Rs. 190.00 in terms of the Subscription Agreement between Packages Limited (PKGS) and International Finance Corporation; and

ii) To the ordinary shareholders at the rate of 45% i.e. Rs. 4.50 per ordinary share of Rs. 10.00 (2011: cash dividend 15% i.e. Rs. 1. 50 per ordinary share of Rs. 10.00).

Financial Results

The financial results of the Company are as follows:-

Year ended

Year ended

31.12.2012

31.12.2011

Rs. in ‘000′

Rs. in ‘000′

Local sales

13,808,154

13,723,196

Export sales

63,220

73,456

———-

———-

13,871,374

13,796,652

Less: Sales tax and excise duty

2,110,315

2,393,077

Commission

15,769

17,164

———-

———-

2,126,084

2,410,241

———-

———-

Net sales C/F.

11,745,291

11,386,411

Cost of sales

(10,386,198)

(10,071,355)

———-

———-

Gross profit

1,359,092

1,315,056

Administrative expenses

(345,690)

(286,809)

Distribution and marketing costs

(416,321)

(385,980)

Projects expenditure

(55,768)

Other operating expenses

(30,888)

(4,062)

Other operating income

288,492

289,281

———-

———-

Profit from operations

854,685

871,718

Finance costs

(528,371)

(483,649)

Investment income

1,534,453

1,040,290

Reversal of impairment/ (impairment) on investments

361,161

(391,189)

———-

———-

Profit before tax

2,221,928

1,037,170

Taxation

(874,592)

(176,444)

———-

———-

Profit for the year from Continuing operations

1,347,336

160,726

Loss for the year from Discontinued operations

(4,058,801)

(1,728,678)

———-

———-

Loss for the year

(2,711,465)

(1,567,952)

———-

———-

Basic earnings/ (loss) per share
– From Continuing operations Rupees

15.97

1.90

– From Discontinued operations Rupees

(48.10)

(20.49)

———-

———-

– From Loss for the year Rupees

(32.13)

(18.59)

———-

———-

Diluted earnings/ (loss) per share
– From Continuing operations Rupees

15.76

1.90

– From Discontinued operations Rupees

(48.10)

(20.49)

———-

———-

– From Loss for the year Rupees

(32.34)

(18.59)

The Annual General Meeting of the Company is proposed to be held at Karachi on Tuesday, 30 April 2013 at 11.00 A.M. the date which has already been cleared by your office.

The Share Transfer Books of the Company will be closed from 19 April 2013 to 30 April 2013 (both days inclusive).

We will be sending you 300 copies of the printed accounts for distribution amongst the members of the Exchange in due course of time. Additionally, the accounts shall also be e-mailed to the Exchange by this evening at aqfs@kse.com.pk in Portable Document Format (PDF) to enable the Exchange to place the same on its Website. The accounts shall also be placed on the Company’s website (http://www.packages.com.pk/periodical_reports.htm).

Please convey the above information to the members of your Stock Exchange.

For more information, contact:
Adi J. Cawasji
Company Secretary
Packages Limited
Shahrah-e-Roomi, P.O. Amer Sidhu,
Lahore- 54760, Pakistan
Ph: 35811541-46
Fax: (042) 35811195

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