The Board of Directors
of lCI Pakistan Limited (the "Company" ) in their meeting held on
January 26, 2022 has approved the un-audited Financial
Statements of the Company for the 2nd quarter/ half year
ended December 31, 2021 and is pleased to announce
the consolidated and un-consolidated
results of the same
which are attached as Annexure 'A' and ' B' respectively.
DIVIDEND
The Board of Directors has approved an interim cash dividend in respect of the financial
year ending June 30,
2022 at the rate of 200% i.e. PKR 20 per share of PKR 1 0/- each to
be payable to the shareholders.
The above
entitlement will be paid to the shareholders whose
names wi II appear in the Register of Member s on February 08, 2022
(close of business).
FINANCIAL RESULTS
Attached as "Annexure - A" (consolidated results) and "Annexure - B" ( un-consolidated results).
FINANCIAL RESULTS- OVERVIEW
On a consolidated
basis (including the results
of the Company's subsidiaries: IC!
Pakistan Power Gen Limited,
Nutri Co Pakistan (Private) Limited and Nutri Co Morinaga (Private)
Limited), Net Turnover for the six month s period under review was PKR 46,624
m i ll ion, a 53% increase over the Same Period Last Year (SPL
Y). The Operating Result at PKR
6,759 million is higher by 79% in comparison
to the SPLY.
On a consolidated basis, Profit After Tax (PAT) for the six months period under review
at PKR 6,045 m i ll ion, i s 1 45% higher
than the SPL Y whereas Earning Per
Share (EPS) attributable to the
owners of the hol
d i ng company at PKR
62.69 is 11 9%
higher than the SPLY. The improved performance was ach ieved on account of enhanced efficiencies delivered by th e businesses, recovering consumer demand,
consolidation of results of Nutri
Co Pakistan (Private) Li m i ted, and a
one-off net positive impact of
PKR 1,847 million resulting from the re-measurement of the
previously held equity interest of Nutri Co Pakistan (Private) Limited.
Adjusting for the one-off gai n of PKR 1 ,847 million due to the re-measurement of previous y held equity interest, as explained above, PAT for the period under
review would have been
PKR 4, I 98 million, 70% higher versus the SPLY and EPS attributable to the owners of the holding company would have been PKR 42.69, higher
by 49% as compared to the SPLY .
On a stand alone basis, PAT and EPS for the six months period under review at PKR 3,569 million and PKR
38.65 respectively are 35% higher than the SPLY.
BOOK CLOSURE
The share transfer books of the Company will be closed from February 09, 2022
to February 11,
2022 (both days
inclusive). Transfers received in
order at the office of the Company's Share Registrar
M/s. FAMCO Associates ( Private) Limited,
8-F, Nursery, Bloc k-6, P.E.C.H.S.
Shahrah-e- Faisal,
Karachi, by the close of
business on February 08, 2022
will be treated in time to
entitle the transferees
for the purpose of above interim
cash dividend.
OTHER INFORMATI ON
We hereby convey
the following
information:
lCl Pakistan Limit e d is
pleased to inform you that
the Board of Directors of IC I
Pakistan in their Board meeting
held today January 26,
2022 have
authorized the execution of
a Term Sheet with Tariq Glass Industries Limit e d (TG f L) to explore the possibility of a joint venture with TGIL to set up a green field state
of-the-art
float-glass manufacturing
facility having a production capacity of up
to 1,000 metric tons per day (the "Proposed Joint Venture"). I n t his
regard, the
manufacturing facility is intended
be set up via the format
io n of a
joint venture company to be
incorporated by ICI
Pakistan and TG f L.
The implementation of the Proposed
Joint Venture is subject to,
including, finalization and execution of definitive
agreements and receipt of necessary corporate and regulatory approval(s).
Any further development in
respect of the Proposed Joint
Venture will be duly
communicated.
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