Dewan Mushtaq Textile Mills Limited’s Financial Result 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 or September 30, 2011 at 07:30 pm at 7th Floor, Block-A, Finance and Trade Centre, Shahrah-e Faisal, Karachi, Pakistan, recommended the following:

(i) CASH DIVIDEND                                        Nil

AND/OR

(ii) BONUS SHARES                                        Nil

AND/OR

(iii) RIGHT SHARES                                       Nil

AND/OR

(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION              Nil

AND/OR

(v) ANY OTHER PRICE-SENSITIVE INFORMATION                Nil

The financial results of the Company are as follows:

2011 2010
(Rupees)
Sales – Net 1,504,372,543 1,051,557,562
Cost of sales (1,473,868,870) (979,882,248)
————- ————-
Gross Profit 30,503,673 71,675,311
————- ————-
Operating Expenses
Administrative and General Expenses (27,898,620) (18,000,157)
Distribution Cost and Selling Expenses (4,876,336) (8,134,503)
————- ————-
(32,774,956) (26,134,660)
————- ————-
(2,271,283) 45,540,654
Other Operating Income 529,167 62,197
————- ————-
(Loss)/ Profit from Operations (1,742,116) 45,602,851
————- ————-
Finance Cost (299,123) (763,216)
Other Charges (2,241,982)
Impairment in Investments (4,505,677)
————- ————-
(299,123) (7,510,875)
————- ————-
(Loss) / Profit before taxation (2,041,239) 38,091,976
Taxation
————- ————-
    –    Current (15,696,335) (5,261,872)
    –    Deferred 28,725,622 2,601,380
————- ————-
13,029,287 (2,660,492)
————- ————-
Profit after taxation 10,988,048 35,431,484
————- ————-
Earning per share – Basic 3.20 10.32

The Annual General Meeting of the Company will be held on Wednesday, October 26, 2011 at Karachi, Pakistan.

The Share Transfer Books of the Company will be closed from October 20, 2011 to October 26, 2011 (both days inclusive).

For more information, contact:
Haroon Iqbal
Director
Dewan Mushtaq Textile Mills Limited
Finance and Trade Center (FTC),
8th Floor,
Block – A,Shahrah-e-Faisal,
Karachi,Pakistan.
UAN: (92-21)111-364-111
Fax: (92-21) 5630860
Web: web.dewangroup.com.pk

Leave a Reply