Century Paper and Board Mills Limited’s financial results for the half year ended 31 December 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held on Friday 03 February 2012 at 10:30 a.m. at the Registered Office of the Company at Lakson Square, Building No.2, Sarwar Shaheed Road, Karachi has approved the un-audited financial statements for the half year ended 31 December 2011 duly reviewed by the auditors of the Company.

The financial results of the Company are as follows:

 

Half year ended

Quarter ended

December 31,

December 31,

December 31,

December 31,

2011

2010

2011

2010

(Rupees in thousands)

Sales – net 6,150,636 5,262,669 2,987,839 2,867,385
Cost of sales (5,173,890) (4,586,123) (2,575,071) (2,556,804)
——— ——— ——— ———
Gross profit 976,746 676,546 412,768 310,581
General and administrative expenses (123,941) (113,107) (63,177) (55,498)
Selling expenses (16,623) (15,449) (8,132) (7,718)
Distribution expenses (32,552) (35,650) (17,576) (20,207)
Other operating charges
Workers profit participation fund (170,016) (1,813) (4,811) 552
Workers’ welfare fund (6,466) (689) (1,828) 210
Others (39,139) (9,574) (17,917) (1,260)
——— ——— ——— ———
(62,621) (12,076) (24,556) (498)
Other operating income 35,347 41,230 17,363 18,066
——— ——— ——— ———
Operating profit 776,356 541,494 316,690 244,726
Financial charges (459,526) (507,733) (227,113) (255,013)
——— ——— ——— ———
Profit/ (loss) before taxation 316,830 33,761 89,577 (10,287)
Taxation
Current (61,506) (52,627) (29,878) (28,674)
Prior year 1,163 1,163
Deferred (46,500) (9,000) (16,500) 3,500
——— ——— ——— ———
(108,006) (60,464) (46,378) (24,011)
——— ——— ——— ———
Profit / (loss) for the period 208,824 (26,703) 43,199 (34,298)
——— ——— ——— ———
Earnings/ (Loss) per share – basic and diluted attributable to ordinary shareholders(Rupees) 0.17 (3.16) (0.78) (1.88)
——— ——— ——— ———
Earnings/ (Loss) per share-basic and diluted
There is no dilutive effect on the basic earnings per share of the Company which is calculated as follows:
Profit/ (loss) for the period 208,824 (26,703) 43,199 (34,298)
Dividend attributable to
Cumulative Preference Shares (196,867) (196,867) (98,434) (98,434)
——— ——— ——— ———
Profit/ (loss) attributable to ordinary Shareholders 11,957 (223,570) (55,235) (132,732)
——— ——— ——— ———
Weighted average number of ordinary
Shares (in thousands) 70,684 70,684 70,684 70,684
——— ——— ——— ———
Earnings / (loss) per share attributable to ordinary shareholders(Rupees) 0.17 (3.16) (0.78) (1.88)

 

For more information, Contact:
Century Paper and Board Mills Limited
Lakson Square, Bldg.No.2,
Sarwar Shaheed Road,
Karachi –74200, Pakistan.
Tel: 689 8000
Fax: 92-21-568 4336
Website: www.centurypaper.com.pk
E-mail: Mansoor-ahmed@centurypaper.com

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