Habib-ADM Limited’s board of directors meeting
Karachi: We are pleased to inform you that the Board of Directors of M/s Habib-ADM Limited (HAL) in their meeting held on Wednesday, September 07, 2011 considered and approved the Company’s Audited Financial Statements for the Year ended June 30, 2011. The Financial Results are attached.
Cash Dividend
The Board of Directors has recommended a cash dividend at the rate of 40% i.e. Rs. 2 per share of Rs. 5 each to stock holders whose names appear in the books on October 26, 2011 subject to approval of the Stockholders in the Annual General Meeting.
Moreover, we also inform you that the 31st Annual General Meeting of the Shareholders of the Company will be held on Wednesday, October 26, 2011 to 11:30 a.m. at H.A.H. Muslim Gymkhana Auditorium, Aiwan-e-Saddar Road, Karachi. Members whose names appear in the Register of Members on October 26, 2011 will be entitled to attend the meeting.
The Share Transfer Books of the Company will remain closed from October 20, 2011 to October 26, 2011 (both days inclusive).
A member of the Company entitled to attend and vote may appoint another member as his/her proxy to attend and vote instead of him/her. Proxies must be received at the Registered Office of the Company not later than 48 hours before the time of holding the meeting.
In case of any change in the address, the shareholder are requested to communicate to the Company’s Share Registrar: Secretarial Services (Pvt) Limited, 2nd Floor, UBL Building, I.I. Chundrigar Road, Karachi.
Kindly circulate the above information to your members. We shall forward 300 copies of Annual Reports in due course, which are under printing.
Habib-ADM Limited
Financial Results for the year ended June 30, 2011
| Financial Results |
2011 |
2010 |
|
Rupees |
Rupees |
|
| Sales | ||
| Gross Sales | 1,402,041,529 | 1,273,610,438 |
| Loss: Sales Tax and Special Excise Duty | 101,123,422 | 98,855,652 |
| ————- | ————- | |
| Net Sales | 1,300,918,107 | 1,174,754,786 |
| Cost of Goods Sold | 993,638,663 | 860,852,833 |
| ————- | ————- | |
| Gross Profit | 307,279,444 | 313,901,953 |
| Less: | ||
| Selling and Distribution Expenses | 76,171,261 | 70,766,883 |
| Administrative Expenses | 58,304,935 | 52,392,520 |
| ————- | ————- | |
| 134,476,196 | 123,159,403 | |
| ————- | ————- | |
| Operating Profit | 172,803,248 | 190,742,550 |
| Less: | ||
| Finance Cost | 2,444,808 | 1,523,644 |
| Other operating charges | 13,709,529 | 15,109,370 |
| ————- | ————- | |
| 16,154,337 | 16,633,014 | |
| ————- | ————- | |
| 156,648,911 | 174,109,536 | |
| Add: Other Operating Income | ||
| Income from Financial Assets | ||
| Income on Bank Deposits | 3,963,794 | 6,350,947 |
| Exchange Gain | – | 718,698 |
| Dividend Income from Subsidiary Company | 8,226,268 | 19,444,932 |
| ————- | ————- | |
| 12,190,062 | 26,514,577 | |
| Income From Non Financial Assets | ||
| Rent Income from Subsidiary Company | 12,000 | 5,000 |
| Reversal of Provision for Obsolescence of Raw and Packing Material | – | 2,300,000 |
| Gain on Sale of Property, Plant and Equipment | 345,473 | 937,888 |
| ————- | ————- | |
| 357,473 | 3,242,888 | |
| ————- | ————- | |
| Total Other Operating Income | 12,547,535 | 29,757,465 |
| ————- | ————- | |
| Net Profit Before Taxation | 169,196,446 | 203,867,001 |
| Provision for Taxation | 52,590,780 | 61,377,764 |
| ————- | ————- | |
| Net Profit for the Year | 116,605,666 | 142,489,237 |
| Other Comprehensive Income for the year | – | – |
| ————- | ————- | |
| Total Comprehensive Income for the year | 116,605,666 | 142,489,237 |
| ————- | ————- | |
| Earning per Share of Rs. 5 each | 2.92 | 3.56 |
For more information, Contact:
Habib-ADM Limited
PCG Plz., Sarwar Shaheed Rd.
Karachi 74200, Pakistan
Tel: +92-(21)-5658701
Fax: +92-(21)-5658720
E-Mail: corphabibarkady.com
Leave a Reply
You must be logged in to post a comment.