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Olympia Textile Mills Limited’s financial results for the year ended June 30, 2012

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Karachi, October 10, 2012 (PPI-OT): We have to inform you that the Board of Directors in their meeting held on October 09, 2012 at 11:30 a.m. recommended the following:

(i) Cash Dividend              Nil

(ii)Bonus Issue                Nil

(iii) Right Shares             Nil

(iv) Any Other Entitlement     Nil

The financial results of the Company arc enclosed as per Annexure “A”.

Olympia Textile Mills Limited

Profit and Loss Account

For the Year Ended June 30, 2012-10-09

2012

2011

Rupees

Rupees

Restated

Sales-Net

Cost of goods sold

7,516,574

8,405,477

———

———

Gross (loss)

(7,516,574)

(8,405,477)

Administrative expenses

6,334,255

7,448,164

———

———

Operating (loss)

(13,850,829)

(15,853,641)

Finance cost

962,347

778,444

Other operating expenses

3,439,060

———

———

(18,252,236)

(16,632,085)

Other income

817,537

30,651

———

———

(Loss) before taxation

(17,434,699)

(16,601,434)

Provision for taxation
– current year

– deferred taxation

———

———

———

———

(Loss) after taxation

(17,434,699)

(16,601,434)

———

———

Basic and diluted (loss) per share

(1.61)

(1.54)

For more information, contact:
Muhammad Shakil Khan
Company Secretary
Olympia Textile Mills Limited
23-Davis Road
Lahore-54000 Pakistan
Ph: +92-42-111-859-674
Fax: +92-42-6363920

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