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Gadoon Textile Mills Limited’s financial results for the half year ended December 31, 2012

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Karachi, February 25, 2013 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on February 23, 2013 recommended the following:

(i) Cash Dividend                  Nil

(ii) Bonus Shares                  Nil

(iii) Right Shares                 Nil

(iv) Any Other Entitlement         Nil

The financial results of the Company are annexed.

Further, the Extraordinary General Meeting of the Company will be held at 2:00 p. m. on March 20, 2013 at the Registered Office of the Company at Gadoon Amazai, for election of directors and approval u/s, 208 of the Companies Ordinance, 1984.

The Share Transfer Book of the Company will be closed from March 13, 2013 to March 20, 2013″(both days inclusive). Transfers received at the company’s Share Registrar, Central Depository Company of Pakistan Limited, CDC House, 99-B, Block-B, S.M.C.H. Society, Main Shahrah-e-Faisal, Karachi-74400, at the close of business on March 12, 2013, will be considered in time.

Profit and Loss Account for the Half Year Ended December 31, 2012

Half Year Ended

Quarter Ended

December 31,

December 31,

December 31,

December 31,

2012

2011

2012

2011

Rupees in ‘000’

Rupees in ‘000’

Sales-net

8,896,094

6,412,744

4,633,192

3,246,305

Cost of goods sold

(8,043,473)

(6,092,106)

(4,110,101)

(2,988,022)

———

———

———

———

Gross profit

852,621

320,638

523,091

258,283

Other operating income

5,577

32,620

(2,818)

4,463

———

———

———

———

858,198

353,258

520,273

262,746

Selling and Distribution cost

(171,609)

(106,845)

(98,077)

(49,348)

Administrative expenses

(52,690)

(14,171)

(27,241)

(21,954)

Other operating expenses

(105,343)

(11,867)

(74,209)

37,025

———

———

———

———

(329,642)

(162,883)

(199,527)

(34,277)

———

———

———

———

528,556

190,375

320,746

228,469

Finance cost

(109,780)

(170,161)

(62,114)

(85,737)

———

———

———

———

Profit before taxation

418,776

20,214

258,632

142,732

Provision for taxation
Current

(58,316)

(28,195)

Deferred

(6,170)

(4,010)

(6,170)

(4,928)

Prior Year

1,180

1,180

———

———

———

———

(64,486)

(2,830)

(34,365)

(3,748)

———

———

———

———

Net profit after the tax

354,290

17,384

224,267

138,984

———

———

———

———

Earning per Share-before tax
(Rupees)

17.87

0.86

11.03

6.09

———

———

———

———

Earning per Share-After Tax
(Basie and diluted) (Rupees)

15.12

0.74

9.57

5.93

For more information, contact:
Gadoon Textile Mills Limited
6-A Muhammad Ali Housing Society,
Abdul Aziz Haji Hashim Tabba Street,
Karachi- 75350, Pakistan
Tel: (92-21) 34397701-03
Fax: (92-21) 34382436
E-mail: secretary@gadoontextile.com
Web: www.gadoontextile.com

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