Dawood Lawrencepur Limited’s financial results for the half year ended June 30, 2011

August 16, 2011   Financial Results   No comments

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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