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Shakarganj Mills Limited’s financial results for the year ended September 30, 2011

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Karachi: We are pleased to inform you that the Board of Directors of Shakarganj Mills Limited (SGML) in their meeting held on January 09, 2012 at Faisalabad have considered and approved the Annual Audited Accounts of Shakarganj Mills Limited for the year ended September 30, 2011 and the Board of Directors recommended the following:

(i) CASH DIVIDEND                                    Nil

(ii) BONUS SHARES                                    Nil

(iii) RIGHT SHARES                                   Nil

(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION          Nil

(v) ANY OTHER PRICE-SENSJTIVE INFORMATION

The financial results of the Company are attached herewith.

The Annual General Meeting of the Company will be held on January 31, 2012 at 9:30 a.m. at Qasr-e-Noor, 9-E-2, Main Boulevard, Gulberg-III, Lahore.

The Share Transfer Books of the Company will be closed from January 24, 2011 to January 31, 2012 (both days inclusive). Transfers received at the Share Registrar of the Company i.e. CorpTec Associates (Pvt) Limited 7/3-G, Mushtaq Ahmad Gurmani Road, Gulberg-II, Lahore at the close of business on January 23, 2012 will be treated in time for the purpose to attend the Annual General Meeting.

Profit And Loss Account for the Year Ended September 30, 2011

 

Note

2011

2010

(Rupees in thousands)

Represented

Continuing operations:
Sales2913,363,2647,794,204
Cost of sales30(12,069,279)(7,081,788)
———-———-
Gross Profit1,293,985712,416
Administrative expenses31(297,903)(212,348)
Distribution and selling costs32(245,291)(93,100)
Other operating expenses33(164,228)(169,367)
Other operating income34254,604100,001
———-———-
Profit front operations841,167337,602
Finance cost35(945,255)(991,063)
Share of profit/(loss) from associates19.155,893(22,229)
———-———-
Loss before taxation(48,195)(675,690)
Taxation
– Company(132,572)(55,860)
– Associates(25,737)(20,587)
———-———-
36(158,309)(76,447)
———-———-
Loss for the year from continuing operations(206,504)(752,137)
———-———-
Discontinued operations:
Profit/(loss) for the year from discontinued operations124,981(127,590)
———-———-
Loss for the year(81,523)(879,727)
———-———-
Basic earnings/(loss) per share
From continuing operations       Rupees37(2.97)(10.82)
From discontinued operations     Rupees371.80(1.84)
———-———-
From loss for the year           Rupees(1.17)(12.66)
———-———-
Diluted earnings/(loss) per share
From continuing operations       Rupees37(2.97)(10.82)
From discontinued operations     Rupees371.80(1.84)
———-———-
From loss for the year           Rupees(1.17)(12.66)

 

For more information, Contact
Shakarganj Mills Limited
10th Floor, BOP Tower
Main Boulevard, Gulberg-III
Lahore, Pakistan.
Tel:  042 3578 3801-04
Fax: 042 3578 3811

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