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Wednesday, October 17th, 2018

ICI Pakistan Limited’s results for the quarter and half year ended June 30, 2012

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Karachi, August 29, 2012 (PPI-OT): We wish to inform you that the Board of Directors of ICI Pakistan Limited (ICI) at its meeting held on August 26, 2012, has approved the unaudited accounts of the Company for the quarter and half year ended June 30, 2012 with limited scope review by the statutory auditors showing the following results:

Interim Dividend

The Board has approved an interim dividend in respect of the financial year ending December 31, 2012 at the rate of 35% i.e., Rs 3.50 per share of Rs 10/- each on the issued and paid up share capital of Rs 923,591,000/-, to be payable to the members whose names appear in the Register of Members on September 17, 2012.a

Financial Results

Amounts in Rs ’000

For the 3

For the 6

For the 3

For the 6

months

months

months

months

ended June

ended June

ended June

ended June

30, 2012

30, 2012

30, 2011

30, 2011

Net sales, commission and toll income

8,521,808

16,729,480

8,291,509

17,974,448

Cost of sales

(7,387,007)

(14,783,464)

(7,410,222)

(15,953,671)

———-

———-

———-

———-

Gross profit

1,134,801

1,946,016

881,287

2,020,777

Selling and distribution expenses

(289,822)

(549,486)

(261,140)

(485,758)

Administration and general expenses

(368,712)

(648,277)

(251,535)

(438,922)

———-

———-

———-

———-

Operating result

476,267

748,253

368,512

1,096,097

Financial charges

(72,600)

(169,976)

(19,261)

(38,846)

Workers’ profit participation fund

(24,635)

(37,740)

(24,906)

(68,784)

Workers’ welfare fund

(9,540)

(14,506)

(9,176)

(26,668)

Other operating charges

(7,348)

(14,155)

(2,127)

(11,159)

———-

———-

———-

———-

(114,123)

(236,377)

(55,470)

(145,457)

Other operating income

105,321

198,928

75,106

208,285

———-

———-

———-

———-

Profit before taxation

467,465

710,804

388,148

1,158,925

Taxation

(163,550)

(248,573)

(139,766)

(402,970)

———-

———-

———-

———-

Profit after taxation from continuing operations

303,915

462,231

248,382

755,955

Profit from Discontinued operation (net of tax)

100,059

216,602

———-

———-

———-

———-

Profit for the period

303,915

462,231

348,441

972,557

———-

———-

———-

———-

(Rupees)

(Rupees)

Basic and diluted earnings per share – Continuing operations

3.29

5.00

1.79

5.45

———-

———-

———-

———-

Basic and diluted earnings per share – Discontinued operation

0.72

1.56

These financial results include a one-off charge of Rs 124 million (June 30, 2011: Nil) relating to costs incurred on demerger of the Company’s Paints Business.

The Share Transfer Books of the Company shall remain closed from 18 September to 25 September (both days inclusive). Transfers received in order at the office of our Shares Registrar, FAMCO Associates (Pvt) Limited, State Life Building 1-A, Ground Floor, I.I. Chundrigar Road, Karachi 74000, by the close of business on 17 September 2012 will be treated in time to entitle the transferees to the above interim dividend.

For more information, contact:
Ambreen Shah
Company Secretary
ICI Pakistan Limited
ICI House, 5 West Wharf,
P.O. Box.4731, Karachi 74000
T: + 92 21 111 100 200
T: + 92 21 3231 3717-22
F: + 92 21 3231 1739
Web: www.icipakistan.com

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