Hira Textile Mills Limited’s financial results for the year ended 30th June 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held on October 03, 2011 at 2.30 PM at 44 E/1 Gulberg III Lahore recommended the following:

I. CASH DIVIDEND

Rs 1.00 share or 10%.

AND/OR

II. BONUS SHARES          NIL

AND/OR

III. RIGHT                NIL

AND/OR

IV. ANY OTHER ENTITLEMENT / CORPORATE ACTION     NIL

V. ANY OTHER PRICE – SENSITIVE INFORMATION       NIL

VI. The following are the financial results for the year ended on June 30, 2011

 

Year ended

Year ended

June 30, 2011

June 30, 2010

Rupees

Sales -Net 4,947,939,216 3,116,908,591
Cost of Goods Sold  4,218,794,738 2,508,118,978
————-  ————-
Gross Profit 729,144,478 608,789,613
Other operating income 3,296,613 6,396
 732,441,091 608,796,009
 ————- ————-
Distribution Cost 71,203,155 42,833,813
Administrative Expenses 56,970,003 48,298,432
Other Operating Expenses 19,794,302 23,768,975
Finance Cost 326,066,570 263,526,353
 ————- ————-
474,033,970 378,427,573
258,407,121 230,368,436
Share of Profit of Jointly Controlled
entity (Hira Terry Mills Ltd) 18,286,959  47,210,701
 ————- ————-
Profit before Tax 276,694,080 277,579,137
Provision for Taxation 56,959,678 28,751,165
————- ————-
Profit after Tax 219,734,402  248,827,972
 ————- ————-
Earnings Per Share – Basic and Diluted 3.07  3.48

 

VIII. The Board has taken following decisions about annual general meeting of the company.

1- Annual General Meeting of the company will be held on October 29, 2011 at 11.00 AM at its registered office 44-E/1 Gulberg III Lahore.

2- The Share Transfer Books of the Company will remain closed from 27-10-2011 to 03-11-2011.

For more information, contact:
Saeed Ahmad Khan
Company Secretary
Hira Textile Mills Limited
44-e/1, Gulberg-III
Lahore
Tel: 042 – 3571 4191-4
Fax: 042 – 3571 0048
E-mail: hira@hiramills.com.pk
Website: www.hiratex.com.pk

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