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

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held at Registered Office today, Saturday, October 01, 2011 at 1400 hrs recommended following.

Cash Dividend

A final cash dividend for the year ended June 30, 2011 at Rs. 1.00 per share i.e. 10%.

The financial results of the Company are enclosed as Annexure ‘A’.

The Annual General Meeting of the Company will be held on October 25, 2011 at 1600 hrs at Moosa DE Dessai Auditorium, ICAP, Clifton, Karachi.

The above entitlement will be paid to the shareholders whose names will appear in the Registrar of Members on October 17, 2011.

The Share Transfer Books of the Company will be closed from October 17, 2011 to October 25, 2011 (both days inclusive). Transfer received at registered office of the Company at Plot No. 5-9, 23-26, Sector 16, Korangi Industrial Karachi, at the close of business on October 16, 2011 will 8be treated in time for the purpose of above entitlement to the transferees.

Profit and Loss Account For the year ended June 30, 2011

  June 30 2011, June 30, 2010
 

Rupees in 000

Net Sales 4,869,120 3,671,610
Cost of sales (4,126,025) (2,904,895)
  ——— ———
Gross Profit 743,095 766,715
Distribution costs (103,643) (129,198)
Administrative expenses (53,922) (52,304)
Other operating expenses (38,130) (83,949)
Other operating income 36,514 29,224
  ——— ———
  (159,181) (236,227)
  ——— ———
Operating Profit 583,914 530,488
Finance costs (188,641) (159,563)
  ——— ———
Profit Before Taxation 395,273 370,925
Taxation (43,829) (36,389)
  ——— ———
Net Profit for the Year 351,444 334,536
  ——— ———
Earnings Per Share – Basic and Diluted (Rs. per share) 4.18 3.98

For more information,contact:
Faisal Ahmed
Chief Executive
Artistic Denim Mills Limited
Plot No. 5-9, 23-26, Sector 16,
Korangi Industrial Area, Karachi,
Pakistan.
Tel: (92-21) 111-236-236
Fax: (92-21) 505-4652
Web: www.admdenim.com

Leave a Reply