ICC Textile Limited’s financial results for 2nd quarter i.e. accounts for the six months ending December 31, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Wednesday, February 29, 2012 at 4:00 p.m. at Company’s registered office 242-A, Anand Road, Upper Mall, Lahore have approved the 2nd Quarterly Accounts i.e. Accounts for the six months ending December 31, 2011

The financial results of the Company for the 2nd quarter ended December 31, 2011 are as follows:

 

Half Year Ended Quarter Ended
Reviewed Reviewed Unaudited Unaudited
Jul-dec Jul-dec Oct-Dec Oct-Dec
2011 2010 2011 2010
Rupees Rupees Rupees Rupees
Sales-net 908,767,045 1,024,045,694 429,568,013 499,385,810
Cost of goods sold (917,769,038) (1,015,202,112) (438,926,852) (508,475,679)
———– ————- ———– ———–
Gross Profit / (Loss) (9,001,993) 8,843,582 (9,358,839) (9,109,869)
———– ————- ———– ———–
Administrative expenses (16,340,262) (13,982,419) (8,754,979) (7,266,925)
Distribution cost (9,612,568) (6,935,684) (3,756,528) (7,676,664)
Other operating expenses (405,855) (401,652) (211,205) (209,568)
———– ————- ———– ———–
(26,358,685) (21,319,755) (12,722,712) (11,155,157)
———– ————- ———– ———–
Operating loss (35,360,676) (12,476,173) (22,081,551) (20,265,026)
Finance cost (47,314,253) (54,632,435) (2,086,821) (25,551,679)
———– ————- ———– ———–
(82,674,931) (67,108,608) (45,168,372) (45,816,705)
Other operating income 86,774,798 2,650 65,007,889 263
———– ————- ———– ———–
Profit / (Loss) before taxation 4,099,867 (67,105,958) 19,909,517 (45,816,442)
Taxation (4,648,177) (5,765,517) (2,060,916) (2,757,119)
———– ————- ———– ———–
Profit / (Loss) after taxation (548,310) (72,871,475) 17,848,601 (48,573,561)
———– ————- ———– ———–
Earning / (Loss) per Share
basic and diluted (0.02) (7.29) 0.59 (4.86)

 

We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange.

For more information, Contact:
ICC Textile Limited
242-A, Anand Road, Upper Mall,
P.O. Box: 1280, Lahore- 54000, Pakistan
Tele: (042) 35751765-67,
Fax: (042) 35789206,
E-mail: icctex@wol.net.pk

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