Attock Petroleum 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 on September 10, 2011 at 04:00 p.m. (06:00 p.m. PST) at Damascus, Syria recommended the following:

(i) Cash Dividend

A final Cash Dividend for the year ended June 30, 2011 at Rs. 30/- (Thirty) per share i.e. 300%. This is in addition to Interim Dividend (s) already paid at Rs. 11.50 per share i.e. 115%.

And/Or

(ii) Bonus Shares

It has been recommended by the Board of Directors to issue Bonus Shares in the proportion of NIL share (s) for every NIL share (s) held i.e. NIL%. This is in addition to the Interim Bonus Shares already issued @ NIL%.

And/Or

(iii) Right Shares

The Board has recommended to issue NIL% Right Shares at par/at a discount / premium of Rs. NIL per share in proportion of NIL share(s) for every NIL share(s). The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.

BALANCE SHEET AS AT JUNE 30, 2011

 

2011

2010

 Note

Rupees ’000

SHARE CAPITAL AND RESERVES
Authorised capital 6 1,500,000 1,500,000
 ———- ———-
Issued, subscribed and paid up capital 6 691,200 576,000
Reseives
Special reserves 7 27,407 17,043
Revenue reserve
Unappropriated profit 10,827,601 8,643,543
———- ———-
11,546,208 9,236,577
NON CURRENT LIABILITIES
Long term deposits 8 209,316 178,908
Deffered income tax liabiltty  9 111,000  110,000
 ———- ———-
320,316 288,908
CURRENT LIABILITIES
Trade and other payables 10 12,073,287 11,554,057
Provision for income tax 540,540 363,110
———-  ———-
12,613,627  11,917,167
CONTINGENCIES AND COMMITMENTS 11
———- ———-
24,480,351 21,442,652
———-  ———-
NON CURRENT ASSETS
Property, plant and equipment 12 1,374,767 1,217,217
Long term investments In
associated companies 13 842,957 765,739
Long term prepayments 14 15,231 30,483
CURRENT ASSETS
Stores and spares 9,729 6,630
Stock in trade 15 5,246,705 993,282
Trade debts 16 9,297,292 7,602,060
Advances, deposits, prepayments
and other receivables 17 1,459,703 719,904
Shot term investments 18 1,015,930 831,754
Cash and bank balances 19 5,218,037  9,275,603
———- ———-
 22,247,396 19,429,233
———-  ———-
24,480,351 21,442,552

 

The annexed notes 1 to 36 form an integrai part of these financial information.

And/Or

(iv) Any Other Entitlement / Corporate Action

And/Or

(v) Any Other Price-Sensitive Information

The financial results of the Company are attached as Annexure I.

The Annual General Meeting of the Company will be held on October 18, 2011, at Islamabad. Time and Venue will be intimated shortly.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on October 08, 2011.

The Share Transfer Books of the Company will be closed from October 10, 2011 to October 18, 2011 (both days inclusive). Transfers received at the following address:

THK Associates (Pvt.) Limited

Ground Floor, State Life Building No. 3,

Dr. Ziauddin Ahmed Road,

Karachi.

Ph No: (92+21) 111-000-322

At the close of business on October 08, 2011 will be treated in time for the purpose of above entitlement to the transferees.

Attock Petroleum Limited

Profit and Loss Account

For the Year Ended June 30, 2011

 

2011

2010

Note

Rupees (‘000)

Sales 20 127,036,966  94,897,866
Sales tax (17,642,241)  (12,105,948)
———– ———–
Net Sales 109,394,725  82,791,918
Cost of products sold 21 (104,680,507) (79,032,034)
———–  ———–
Gross Profit 4,714,218 3,759,884
Other operating income 22 1,978,931 1,308,904
Operating expenses 23 (611,315)  (480,860)
 ———–  ———–
Operating Profit 6,081,834 4,587,928
Finance cost 24 (682,666) (319,865)
Income on bank deposits and short term investments  25 962,838 980,736
Share of profit of associated companies 13 93,211 42,337
Other charges  26 (437,706)  (444,827)
———– ———–
Profit before Taxation 6,017,511 4,846,309
Provision for taxation  27 (1,761,000) (1,252,000)
 ———–  ———–
Profit for the Year 4,256,511  3,594,309
———–  ———–
Earnings per share – Basic and diluted (Rupees) 28 61.58 52.00

 

The annexed notes 1 to 36 form an integral part of these financial information.

For more information, contact:
Chief Executive
Director
Attock Petroleum Limited
6, Faisal Avenue,
F-7/1, Islamabad,
Pakistan.
Ph: 92-51-2611600
Fax: 92-51-2611612
E-mail: aocisb@cyber.net.pk

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