Metropolitan Steel Corporation Limited’s financial results for the year ended June 30, 2010

December 26, 2011   Financial Results   No comments

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Friday December 23, 2011 at 03:30 pm at plot No HE-1, Landhi Industrial Area Karachi recommended the following:-

1. Cash Dividend    Nil

2. Bonus Issue      Nil

3. Right Shares     Nil

The financial results of the company are as follows:-

 

2010

2009

Rupees in `000′
Sales – net 1,360,418 1,444,201
Cost of sales 1,250,451 1,340,141
——— ———
Gross profit 109,967 104,060
Administrative expenses 44,630 31,499
Selling expenses 24,014 24,453
——— ———
68,644 55,952
——— ———
Operating profit 41,323 48,108
Other operating Income 10,249 8,761
Financial charges (108,739) (117,123)
Other charges (1,785) (3,895)
——— ———
(Loss) before income tax (58,952) (64,149)
Income tax expense (6,803) (1,526)
——— ———
(Loss) for the year (65,755) (65,675)
——— ———
Loss per share – basic and diluted (Rupees) (2.12) (2.12)

 

The Annual General Meeting of the Company will be held at 11:30 AM on Saturday January 14, 2012 at Registered Office of the Company at Plot # HE-1 Landhi Industrial Area, Karachi.

Share transfer Books of the Company will be closed from January 8, 2012 to January 14, 2012.

We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange in due course of time.

For more information, contact:
Shariful Muzaffer
Company Secretary
Metropolitan Steel Corporation Limited
Main Office Building 1st Floor,
Plot No. HE-1, Landhi Industrial Area,
Karachi – 75120,
Pakistan.
P.O. Box No. 470.
Tel: 021-5081428
Fax: 021-5081425
Email: mscl@cyber.net.pk

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