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Friday, September 18th, 2020

The Hub Power Company Limited’s financial results for the year ended June 30, 2011

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Karachi: The Board of Directors of the Company, in their meeting held today at Head Office of the Company commencing at 10.00 am have recommended the following:

Cash Dividend

A Final Cash Dividend for the year ended June 30, 2011 at Rs 3.00 per share i.e.30%. This is in addition to Interim Dividend already paid in April 2011 at Rs. 2.50 per share i.e. 25%.

The Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Cash Flow Statement and Statement of changes In Equity for the year ended June 30, 2011 are attached.

We also attach herewith Consolidated Profit and Loss Account, Statement of Comprehensive income Balance Sheet, Cash Flow Statement and Statement of Changes in Equity for the year ended June 30, 2011.

The Annual General Meeting of the Company to approve the Annual Account of the Company for the year ended June 30, 2011 will be held on Monday, October 31, 2011 at 11.30 am at Islamabad.

The Share Transfer Books of the Company will be closed from October 18, 2011 to October 31, 2011 (both days included) and the Final Dividend will be paid to the Shareholders whose names will appear in the Register of Members on October 17, 2011.

Shareholders (Non-CDC) are requested to promptly notify the Company’s Registrar of any change in their addresses and submit, if applicable to them, the Non-deduction of Zakat Form CZ-50 with the Registrar of the Company M/s. Famco Associates (Pvt.) Limited State Life Building 1-A, 1st Floor, I. I. Chundrigar Road, Karachi.

All the Shareholders holding their shares through the CDC are requested to please update their addresses and Zakat status with their Participants. This will assist in the prompt receipt of Dividend.

Members who have not yet submitted photocopy of their valid Computerized National Identity Card are requested to send the same at the earliest directly to the Company’s Share Registrar M/s. Famco Associated (Pvt.) Ltd., State Life Building 1A, I.I. Chundrigar Road, Karachi.

Consolidated Profit and Loss Account for the Year Ended June 30, 2011

 

2011

2010

Note

(Rs. ’000’)

(Rs. ’000’)

Turnover  3 123,309,604 99,694,264
Operating costs  4 (114,092,576) (92,006,319)
———– ———-
Gross Profit 9,217,028 7,687,945
Other income 5 47,136 67,024
General and administration expenses 6 (535,231)  (485,576)
Finance costs 7 (3,185,721)  (1,800,558)
Workers’ profit participation fund 8
 ———– ———-
Profit before Taxation 5,563,212  5,468,837
Taxation  9 (17,421)
 ———–  ———-
Profit for the Year 5,545,791 5,468,837
———–  ———-
Attributable to:
Owners of the holding company  5,569,843 5,490,335
– Non-controlling interest (24,052)   (21,498)
 ———–   ———-
5,545,791  5,468,837
———–  ———-
Basic and diluted earnings per share attributable to owners of the holding company (Rupees) 30 4.81  4.74

 

 

The annexed notes from 1 to 37 form an integral pert of these consolidated financial statements.

Unconsolidated Profit and Loss Account for the Year Ended June 30, 2011

 

2011

2010

 Note

(Rs. ’000’)

(Rs. ’000’)

Turnover 3 123,309,604 99,694,264
Operating costs 4 (114,092,576)  (92,006,319)
 ———– ———-
Gross Profit 9,217,028 7,687,945
Other income 5  26,684 53,259
General and administration expenses 6 (436,708)  (391,491)
Finance costs 7 (3,382,172) (1,793,591)
Workers’ profit participation fund  8  –
———– ———-
Profit for the Year  5,424,832 5,556,122
———– ———-
Basic and diluted earnings per share (Rupees) 28 4.69 4.80

 

 

The annexed notes from 1 to 36 form an integral part of these unconsolidated financial statements.

 

For more information, contact:
The Hub Power Company Limited
Islamic Chamber Building
Block-9, Clifton
P. O. Box 13841, Karachi-75600
Tel: 92-21 587 4677-86
Fax: 92-21 587 0397
Website http://www.hubpower.com

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