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Olympia Spinning and Weaving Mills Limited’s financial results for the first quarter ended September 30, 2012

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Karachi, October 31, 2012 (PPI-OT): It is to inform you that the Board of Directors of Olympia Spinning and Weaving Mills Limited (OLSM) in their meeting held today at Head Office, E-3 Farzana Building, 1st Floor, Block 7 and 8, and Shaheed-e-Millat Road, Karachi, have approved the accounts of the Company for the First quarter ended September 30, 2012.

Cash Dividend    :       Nil

Bonus Shares     :       Nil

Right Shares     :       Nil

The financial results of the Company are as follows:

September-2012

September-2011

Rupees

Rupees

Sales (net)

608,908,513

391,161,731

Cost of goods sold

(537,145,305)

403,171,482

———–

———–

Gross profit/ (loss)

71,763,208

(12,009,751)

Distribution cost

(9,027,817)

(3,831,869)

Administrative expenses

(10,668,622)

(10,547,831)

Other Income

3,788,160

648,197

———–

———–

(15,908,280)

(13,731,502)

———–

———–

Operating profit/ (loss)

55,854,928

(25,741,253)

Finance cost

(39,586,500)

(40,577,672)

———–

———–

Net Profit/ (loss) before taxation

16,268,428

(66,318,926)

Taxation:

6,089,085

(3,911,617)

———–

———–

Net Profit/ (loss) for the period after taxation

10,179,343

(70,230,543)

———–

———–

Earning per share

0.85

(5.85)

For more information, contact:
Muhammad Anwar Saigal
Company Secretary
Olympia Spinning and Weaving Mills Limited
E-3, Farzana Building, 1st Floor, Block-7 and 8,
Shaheed-e-Millat Road, Karachi-76350, Pakistan.
Phones (PABX’s): 34536235-34522657-34525720-34541690
Fax: (021) 34546263,
Email: info@olympiaspinning.com

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