Towellers Limited’s financial results 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 at 11:30 a.m. on Monday October 03, 2011 W.S.A. 30-31, Block – 1, Federal ‘B’ Area, Karachi, recommended the following:

The Financial results of the Company are as follows:

Profit and Loss Account for the Year Ended June 30, 2011

 

June 30, 2011

June 30, 2010

Particulars

Rupees

Rupees

Sales-Net 3,506,879,633 4,003,561,148
Cost of Sales (3,263,466,707) (3,373,145,156)
 ————-  ————-
Gross Profit 243,412,925  630,415,992
Distribution cost  (128,294,930) (167,623,325)
Administrative Expenses (190,794,010)  (174,410,497)
Other Operating Expenses (15,105,556) (5,257,108)
Finance cost  (249,880,298) (269,788,906)
 ————- ————-
(584,074,794)  (617,079,836)
 ————- ————-
(Loss) / Profit from operations  (340,661,869) 13,336,156
Other operating income 4,339,335 833,867
————-  ————-
(Loss) / Profit before Taxation  (336,322,534) 14,170,023
Provision for taxation  (40,754,068)  (40,892,245)
(Loss) for the year (377,076,602)  (26,722,222)
  ————-  ————-
(Loss) per share- Basic and Diluted (22.10)  (1.57)

 

The 38th Annual General Meeting of the Company will be held at 3:00 pm on Wednesday October 26, 2011 at W.S.A. 30-31, Block-I, Federal `B’ Area, Karachi.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on Tuesday October 18, 2011.

The Share Transfers Book of the Company will be closed from 19-10-2011 to 26-10-201 1 (both clays inclusive). Transfers received at our Registrar M/s Noble Computer Services Pvt Ltd. First Floor, House of Habib Building (Siddiq Sons Tower) 3-Jinnah Cooperation Housing Society Main Shahrah-e-Faisal, Karachi – 75350 at the close of business on Tuesday October 13, 2011 will be treated in time.

For more information, contact:
M. Farahan Adil
Company Secretary
Towellers Limited
W.S.A. – 30, Block -1,
Federal ‘B’ Area,
Karachi – 75950
Ph: 6322500
Fax: 21-6314884

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