Dawood Lawrencepur Limited’s financial results for the half year ended June 30, 2011
Karachi: We wish to inform you that the Board of Directors of Dawood Lawrencepur Limited (DLL) in its Meeting held on Tuesday, August 16, 2011 at 0930 hours at Dawood Centre, M.T. Khan Road, Karachi, have approved the un-audited Financial Statements of the Company for the half year ended June 30, 2011 and recommended the following:
(1) | Cash Dividend | Nil |
(2) | Bonus Shares | Nil |
(3) | Right Shares | Nil |
(4) | Any Other Entitlement/Corporate Action | None |
(5) | Any Other Price-Sensitive Information | None |
Financial Results:
Summary of the financial Results are enclosed as Annexure ‘A’ (Standalone) and Annexure ‘B’ (Consolidated)
The un-audited accounts of the Company for the half year ended June 30, 2011 will be placed on the Company’s website i.e. www.dawoodlawrencepur.com requisite copies of printed accounts will be sent for distribution amongst members of the Exchange.
Additionally, the financial statements shall also be emailed to the Exchanges in Portable Document Format (PDF) to enable the Exchanges to place the same on its website.
Financial Results for the Second Quarter and Six Months Ended June 30, 2011
Quarter Ended |
Half Year Ended |
|||
June 30, |
June 30, |
June 30, |
June 30, |
|
2011 |
2010 |
2011 |
2010 |
|
Rupees in thousand |
||||
Continuing Operations | ||||
Sales – net | 80,564 | 77,309 | 156,383 | 155,790 |
Cost of goods sold | (71,564) | (74,440) | (135,079) | (129,856) |
—— | —— | ——- | ——- | |
Gross profit | 9,000 | 2,869 | 21,304 | 25,934 |
Other operating income | 40,948 | 28,493 | 65,407 | 51,266 |
—— | —— | ——- | ——- | |
49,948 | 31,362 | 86,711 | 77,200 | |
Selling and distribution expenses | 2,928 | 2,703 | 5,772 | 4,808 |
Administrative expenses | 19,739 | 35,990 | 33,575 | 43,513 |
Finance cost | 118 | 312 | 252 | 722 |
Impairment loss on available for sale investments | 738 | – | 738 | – |
—— | —— | ——- | ——- | |
(23,523) | (39,005) | (40,337) | (49,043) | |
Profit / (Loss) before taxation | 26,425 | (7,643) | 46,374 | 28,157 |
Taxation | (2,852) | (1,225) | (3,719) | (1,634) |
—— | —— | ——- | ——- | |
Profit / (Loss) after taxation from continuing operations | 23,573 | (8,868) | 42,655 | 26,523 |
Discontinued Operations | ||||
Loss-from discontinued operations | (5,731) | (8,739) | (11,955) | (19,925) |
—— | —— | ——- | ——- | |
Profit / (Loss) for the period | 17,842 | (17,607) | 30,700 | 6,598 |
—— | —— | ——- | ——- | |
Earnings per share – Basic and diluted (Restated) | ||||
Continuing operations (Rs.) | 0.40 | (0.15) | 0.72 | 0.45 |
—— | —— | ——- | ——- | |
Earnings per share – Basic and diluted (Restated) | ||||
Discontinued operations (Rs.) | (0.10) | (0.14) | (0.20) | (0.34) |
Financial results (consolidated) for the Second Quarter and Six Months Ended June 30, 2011
Quarter Ended |
Half Year Ended |
|||
June 30, 2011 |
June 30, 2010 |
June 30, 2011 |
June 30, 2010 |
|
Rupees in thousand |
||||
Continuing Operations | ||||
Sales-net | 80,564 | 77,309 | 156,383 | 155,790 |
Cost of goods sold | (71,564) | (74,440) | (133,079) | (129,856) |
—— | —— | ——- | ——- | |
Gross profit | 9,000 | 2,869 | 21,304 | 25,934 |
Other operating income | 25,178 | 28,572 | 49,539 | 33,633 |
—— | —— | ——- | ——- | |
34,178 | 31,441 | 70,843 | 59,567 | |
Selling and distribution expenses | 2,928 | 2,703 | 5,772 | 4,808 |
Administrative expenses | 28,526 | 40,006 | 45,370 | 50,013 |
Finance cost | 233 | 321 | 367 | 730 |
Impairment loss on available for sale, investments: | ||||
Holding company | 738 | – | 738 | – |
– Associate company | 56,543 | – | 56,930 | – |
—— | —— | ——- | ——- | |
(88,968) | (43,030) | (109,177) | (55,551) | |
Share of profit from associates excluding impairment loss on ‘available for sale’ investments | 161,327 | 69,523 | 406,722 | 300,144 |
—— | —— | ——- | ——- | |
Profit before taxation | 106,537 | 57,934 | 368,388 | 304,160 |
Provision for taxation – Current | (2,856) | (1,225) | (3,742) | (1,634) |
– Share of taxation from associate | (20,754) | (11,951) | (92,364) | (67,775) |
—— | —— | ——- | ——- | |
(23,610) | (13,176) | (96,106) | (69,409) | |
—— | —— | ——- | ——- | |
Profit after taxation from continuing operations | 82,927 | 44,758 | 272,282 | 234,751 |
Discontinued Operations | ||||
Loss from discontinued operations | (5,731) | (8,739) | (11,955) | (19,925) |
—— | —— | ——- | ——- | |
Profit for the period | 77,196 | 36,019 | 260,327 | 214,826 |
—— | —— | ——- | ——- | |
Earnings per share – Basic and diluted (Restated) | ||||
Continuing operations | 1.40 | 0.76 | 4.61 | 3.97 |
—— | —— | ——- | ——- | |
Earnings per share – Basic and diluted (Restated) | ||||
Discontinued operations | (0.10) | (0.14) | (0.20) | (0.34) |
For more information, contact
Hafsa Shamsie
Company Secretary
Dawood Lawrencepur Limited
Karachi. Dawood Centre,
M.T. Khan Road. Karatchi-75530,
Tel: (92-21) 35588001-1
Fax: (92-21) 35633970
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