Nishat Mills Limited’s financial results for the year ended June 30, 2011

Business Insights

Financial Results

Nishat Mills Limited’s financial results for the year ended June 30, 2011

September 6, 2011 by Web Desk in Financial Results with 0 Comments | Short URL

Karachi: We have to inform you that the Board of’ Directors of Nishat Mills Limited in their meeting held on September 06, 2010 (Tuesday), at 10:30 a.m. at Lahore, recommended the followings:-

1) Cash Dividend

A Final Cash Dividend @ Rs. 3.30 per share i.e. 33% for the year ended June 30, 2011

2) Bonus Issue

Nil, And/ Or

3) Right Shares

Nil, And/ Or

4) Any Other Entitlement/Corporate Action,

Nil, And/ Or

5) Any Other Price Sensitive Information

Nil, And/ Or

The Financial Results of the Company Are As Under:-

The separate profit and loss account of the Company is as follows: -

 

 2011 2010

(Rupees in Thousand)

Sales 48,565,144 31,535,647
Cost of Sales  (40,718,697) (25,555,462)
 ———-  ———-
Gross Profit 7,846,447 5,980,185
Distribution Cost (2,190,496)   (1,714,598)
Administrative Expenses (656,756)  (545,166)
Other Operating Expenses (431,220)  (289,080)
———-  ———-
(3,278,472)  (2,548,844)
 ———-  ———-
4,567,975  3,431,341
Other Operating Income 2,444,985 981,650
———- ———-
Profit from Operations 7,012,960  4,412,991
Finance Cost  (1,601,048)  (1,126,922)
———-  ———-
Profit before Taxation 5,411,912 3,286,069
Provision for Taxation  (568,000)  (370,608)
———-  ———-
Profit after Taxation 4,843,912 2,915,461
———-  ———-
Earnings per Share- Basic And Diluted (Rupees)  13.78  10.50

 

The consolidated profit and loss account of the Company is as follows: -

 

 2011  2010

(Rupees in Thousand)

Sales 69,476,556  32,554,012
Cost Of Sales 56,793,348 26,350,899
———- ———-
Gross Profit 12,683,208  6,203,113
Distribution Cost  2,195,083  1,714,571
Administrative Expenses 717,977 562,171
Other Operating Expenses 1,223,892 289,080
———- ———-
 4,136,952 2,565,822
 ———- ———-
 8,546,256  3,637,291
Other Operating Income  4,617,049 424,445
———- ———-
Profit from Operations 13,163,305 4,061,736
Finance Cost 4,394,486 1,308,396
———- ———-
8,768,819 2,753,340
Share of Profit from Associated Companies 1,717,456  5,857,043
———-  ———-
Profit before Taxation 10,486,275 9,610,383
Provision for Taxation  581,739   395,631
———- ———-
Profit after Taxation 9,904,536  8,214,752
———- ———-
Share of profit Attributable to:
Equity Holders of Holding Company 9,007,003  8,194,245
Non-Controlling Interest  897,533 20,507
 ———- ———-
 9,904,536  8,214,752
———-  ———-
Earnings per Share- Basic and Diluted (Rupees) 25.62  29.52

 

 

We will send you requisite copies of printed Accounts of the Company for the year ended June 30, 2011 for distribution amongst the members of the Exchange in due course of time,

Book Closure Notice for Entitlement of Final Cash Dividend @ 33% for the Year Ended June 30, 2011:-

The Share Transfer Books of the Company will remain closed for entitlement of’ Final Cash Dividend @ Rs 3.30 per share i.e. 33%, from 24-10-2011 to 31-10-2011 (both days inclusive). Physical transfers / CDS transactions / IDs. received in order at Registered Office Nishat House, 53-A, Lawrence Road, Lahore upto 1:00 p.m. on 22-10-2011, will be considered in time for the entitlement of said 33% final cash dividend and for attending of the meeting.

Annual General Meeting-.-

The Annual General Meeting of the Company will be held on October 31, 2011.(Monday) at 11:00 A.M. at .Nishat House, 53-A Lawrence Road, Lahore.

The notice of Annual General Meeting of the Shareholders is also enclosed.

Notice of Annual General Meeting

NOTICE is hereby given that Annual General Meeting of the members of Nishat Mills Limited ( the “Company” ) will be held on October 31, 2011 (Monday) at 11:00 a.m. at Registered Office, Nishat House, 53 A, Lawrence Road, Lahore, to transact the following ordinary business;-

1. To receive, consider and adopt the Separate and Consolidated Financial Statements of the Company for the year ended June 30, 2011 together with Directors’ and Auditors’ reports thereon.

2. To approve the payment of final cash dividend @ 33 % (i.e. Rs.3.30 per share) for the year ended June 30, 2011, as recommended by the Board of Directors.

3. To appoint auditors of the Company for the year ending June 30, 2012 and fix their remuneration. The Board of Directors have approved the appointment of M/s. Riaz Ahmad and Company, Chartered Accountants, the retiring auditors on the recommendations of Audit Committee.

Notes:

1. Book Closure Notice for Entitlement of Final Cash Dividend@ 33% for the Year Ended June 30, 2011

The Share Transfer Books of the Company will remain closed for entitlement of Final Cash Dividend @ Rs. 3.30 per share i.e. 33%, from 24-10-2011 to 31-10-2011 (both days inclusive). Physical transfers / CDS transactions / IDs, received in order at Registered Office Nishat House, 53-A, Lawrence Road. Lahore upto 1:00 p.m. on 22-10-2011, will be considered in time for the entitlement of said 33% final cash dividend and for attending of the meeting.

2. A member eligible to attend and vote at this meeting may appoint another member as his/her proxy to attend and vote instead of him/her. Proxies in order to be effective must reach the Company’s Registered Office not later than 48 hours before the time for holding the meeting. Proxies of the Members through CDS shall be accompanied with attested copies of their CNIC. In case of corporate entity, the Board’s resolution/power of attorney with specimen signature shall be Furnished (unless it has been provided earlier) along with proxy form to the Company. The shareholders through CDC are requested to bring original CNIC, Account Number and Participant Account Number to produce at the time of attending the meeting.

3. Shareholders are requested to immediately notify the change of address. If any

4. Members who have not yet submitted photocopies of their Computerized National Identification Cards to the Company are requested to send them at the earliest.

 

For more information, contact:
Nishat Mills Limited
7-Main Gulberg Lahore Pakistan
UAN: 111 99 22 00
Tel: 92-42-35718951
Fax: 92-42-35718350

Tagged

Related Posts

Leave a reply

Your email address will not be published. Required fields are marked *

*

Search News
Advertisement
Advertisement