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ICI Pakistan Limited’s board meeting, results for the six months ended December 31, 2011 and quarter ended March 31, 2012

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Karachi, July 03, 2012 (PPI-OT): We wish to inform you that our Board of Directors at their meeting held on July 03, 2012, have approved the:

– Audited accounts of the Company for six months ended December 31, 2011 and

– Unaudited accounts of the Company for quarter ended March 31, 2012 showing the following results:

Financial Results for the Six Months Ended December 31, 2011 Dividend/ Bonus / Rights Issue

Nil

Financial Results Six months ended
December 31, 2011
(Rupees ‘000)
Net sales

2,446,420

Cost of Sales

1,598,540

———

Gross Profit

847,880

Selling and Distribution expense

426,512

Administration and general expenses

270,279

———

Operating Result

151,089

Financial charges

12,286

Other operating charges

29,401

———

41,687

Other operating income

175,550

———

Profit before taxation

284,952

Taxation

97,271

———

Profit after taxation

187,681

———

Earnings per share – basic and Diluted     (Rupees)

8.08

Financial Results for the Quarter Ended March 31, 2012 Dividend/ Bonus / Rights Issue

Nil

Financial Results Q1 2012
(Rupees ‘000)
Net sales

1,105,262

Cost of Sales

769,434

———

Gross Profit

335,828

Selling and Distribution expense

206,681

Administration and general expenses

141,831

———

Operating Result

(12,684)

Financial charges

3,888

Workers’ profit participation fund

2,804

Workers’ welfare fund

1,087

Other operating charges

2,253

———

10,032
Other operating income

75,994

———

Profit before taxation

53,278

Taxation

18,200

———

Profit after taxation

35,078

The Company is in the process of being listed on Karachi, Lahore and Islamabad stock exchanges and the listing is expected shortly. The Directors have, therefore, decided to convene an Extraordinary General Meeting (EOGM) of the Company to be held on Monday, August 27, 2012 at 10:30 a.m.to seek shareholders approval for the audited accounts for the period ended December 31, 2011.

The Share Transfer Books of the Company will be closed from August 21, 2012 to August 27, 2012 (both days inclusive) Transfers received in order at the office of our Shares Registrar, M/s FAMCO Associates (Pvt) Limited, State Life Building 1-A, 1st Floor, I. I. Chundrigar Road, Karachi-74000, by the close of business on August 20, 2012 will be treated in time for the purposes of the EOGM.

The Company will provide you 300 copies of the printed accounts 21 days before the EOGM for distribution amongst the members of the Exchange.

A complete set of accounts is being placed on the Company’s website: www.akzonobel.com/pk/paints and also being e-mailed to the three stock exchanges in PDF format for uploading on their respective websites.

For more information, Contact:
ICI Pakistan Limited
ICI House, 5 West Wharf,
P.O. Box.4731, Karachi 74000
T: + 92 21 3231 062
T: + 92 21 3231 0622
F: + 92 21 3231 0617
Web: www.icipakistan.com

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