January 24, 2021

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Attock Petroleum Limited’s financial results for the half year ended December 31, 2011

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Karachi: We hereby inform you that the Board of Directors of our Company in their meeting held on Wednesday, February 01, 2012 at 12:30 am at Dubai, UAE recommended the [...]

Karachi: We hereby inform you that the Board of Directors of our Company in their meeting held on Wednesday, February 01, 2012 at 12:30 am at Dubai, UAE recommended the following:

(i) Cash Dividend

An Interim Cash Dividend for the half year ended December31, 2011 at Rs. 17.50 per share i.e.  175%. This is in addition to Interim Dividend (s) already paid at Rs. NIL per share i.e. NIL %.

And/ Or

(ii) Bonus Shares

It has been recommended by the Board of Directors to issue Interim Bonus Shares in 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.

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 above entitlement will be paid to the shareholders whose names will appear in the Register of Members on February 25, 2012.

The Share Transfer Books of the Company will be closed from February 27, 2012 to March 05, 2012 (both days inclusive). Transfers received at the following address:

at the close of business on February 24, 2012 will be treated in time for the purpose of above entitlement to the transferees.

Condensed Interim Profit and Loss Account (Unaudited) for the Six Months Period Ended December 31, 2011

 

Note

Quarter ended

Six months period ended

December31

December 31,

December 31,

December31,

2011

2010

2011

2010

Rupees (‘000)

Rupees (‘000)

Sales 44,660,043 25,594,459 86,069,681 46,751,525
Sales tax (6,073,343) (3,650,627) (11,548,807) (6,424,824)
———- ———- ———- ———-
Net Sales 38,586,700 21,943,832 74,520,874 40,326,701
Cost of products sold (37,310,399) (21,076,377) (72,028,271) (36,617,988)
———- ———- ———- ———-
Gross Profit 1,276,301 867,455 2,492,603 1,708,713
Other operating income 12 703,018 455,544 1,257,824 891,426
Operating expenses (217,454) (148,663) (374,560) (286,162)
———- ———- ———- ———-
Operating Profit 1,761,865 1,174,336 3,375,867 2,313,977
Finance cost 13 (345,014) (164,032) (575,393) (333,751)
Income on bank deposits and
short term investments 240,711 251,044 467,127 530,243
Share of profit of associated companies 20,877 26,510 44,159 53,226
Other charges 14 (115,323) (87,661) (225,816) (173,385)
Profit before Taxation 1,563,116 1,200,197 3,085,944 2,390,310
Provision for taxation 15 (443,300) (332,000) (868,300) (647,000)
———- ———- ———- ———-
Profit for the period 1,119,818 868,197 2,217,644 1,743,310
———- ———- ———- ———-
Earnings per share – Basic and diluted (Rupees) 16.20 12.56 32.08 25.22

 

The annexed notes 1 to 18 form an Integral part of these condensed interim financial statements.

 

Condensed Interim Balanced Sheet as at December 31, 2011 (Unaudited)

 

Note

December 31,

June 30,

2011

2011

Rupees (‘000)

Share Capital and Reserves
Authorized capital 1,500,000 1,500,000
———- ———-
150,000,000 (June 30, 2011: 150,000,000)
ordinary shares of Rs 10 each
Issued, subscribed arid paid up capital 691,200 691,200
69,120,000 (June 30, 2011: 69, 120,000)
ordinary shares of Rs 10 each
Reserves
Special reserve 53,612 27,407
Revenue reserve
Unappropriated profit 10,945,240 10,827,601
———- ———-
11,690,252 11,546,208
Non Current Liabilities
Long term deposits 230,242 209,316
Deferred income tax liability 106,000 111,000
———- ———-
336,242 320,316
Current Liabilities
Trade and other payables 4 20,693,920 12,073,287
Provision for income tax 14,956 540,540
———- ———-
20,708,876 12,613,827
———- ———-
Contingencies and Commitments 5 32,735,370 24,480,351
———- ———-
Non Current Assets
Property, plant and equipment 6 1,466,310 1,374,767
Long term investments in
associated companies 7 875,838 842,957
Long term prepayments 7,398 15,231
Current Assets
Stores and spares 8,723 9,729
Stock in trade 8 4,730,607 5,246,705
Trade debts 9 16,367,053 9,297,292
Advances, deposits, prepayments
and other receivables 10 877,980 1,459,703
Short term investments 1,315,201 1,015,930
Cash and bank balances 11 7,086,260 5,218,037
———- ———-
30,385,824 22,247,396
———- ———-
32,735,370 24,480,351

For more information, Contact
Attock Petroleum Limited
Corporate Office: 6, Faisal Avenue,
F-7/1, Islamabad, Pakistan
Ph: +92-51-2611600, 2611601,
Fax: +92-51-2611603
Web: www.apl.com.pk

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