Zephyr Textiles 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 on September 30, 2011 at 03:30 PM at registered office located at 3rd Floor IEP Building, 97 B/D-1, Gulberg III, Lahore, recommended the following:

i. Cash Dividend

A Cash Dividend for the year ended June 30, 2011 at Rs.1 per share i.e. 10% has been recommended in BOD meeting. The directors of the Company have waived their right to receive this Dividend. This is in addition to Interim Dividend already paid at Rs. Nil per share i.e. Nil%.

And / Or

ii. Bonus Shares

It has been recommended by the Board of Directors to issue Interim Bonus shares in proportion of Nil share for every Nil share held i.e. Nil%, This is in addition to the Interim Bonus Shares already issued @ Nil%.

And / Or

iii. Right Shares

The Board has recommended to issue Nil% Right Shares at par/at a discount/premium of Rs. Nil per share in proportion of Nil share for even Nil share. The entitlement of right shares being declared simultaneously will be/will not he applicable on Bonus Shares as declared above.

And / Or

iv. Any Other Entitlement                Nil

The financial results of the Company are as follows:

Description June30, 2011 June 30, 2010
  Rupees Rupees
Sales 3,573,504,799 2,663,771,335
Cost of Sales 3,149,997,584 2,415,837,197
Gross Profit 423,507,215 247,934,138
Operating Expenses (Admin and Selling etc.) 96,745,455 87,525,822
Other operating Income 13,674,589 63,223,468
Other operating expenses 8,578,387 2,956,083
Operating profit 331,857,962 220,675,701
Finance Cost 217,026,636 280,054,361
Profit/ (Loss) before tax 114,831,326 (59,378,660)
Provision for tax 26,183,370 3,774,924
Profit/ (Loss) after tax 88,647,956 (63,153,584)
Un-appropriated profit brought forward (302,633,449) (263,638,177)
Appropriation Nil Nil
Current year incremental depreciation – net of tax 19,964,472 21,576,955
Transfer of surplus on revaluation on disposal of asset 1,886,918 2,581,357
Un-appropriated Profit / (Loss) carried forward (192,134,103) (302,633,449)
Earning per share 1.49 (1.06)

For more information, contact:
Naveed Aleem
Company Secretary
Zephyr Textiles Limited
3rd Floor, IEP Building, 97-8/D-1,
Gulberg III, Lahore, Pakistan
Tel: +92 (42) 35782905,
Fax: +92 (42) 35753202

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