Financial results of Mian Textile Mills Limited for period ended March 31, 2016

Karachi, Mian Textile Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on April 26, 2016.

The agenda of the meeting was discussion of profit and loss account for nine months period and quarter ended March 31, 2016 which portrayed a loss of Rs. 6,252 and Rs. 5,121 with loss per share 0.28 and 0.23 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Mian Textile Industries Limited, “the Company”, was incorporated in Pakistan on December 01, 1986 as a Public Limited Company under the Companies Ordinance, 1984. Its shares are quoted on Karachi and Lahore Stock Exchanges. The registered office of the Company is situated at 29-B/7, Model Town, Lahore and its manufacturing facilities are located at 48.5 K.M. Multan Road, Bhai Pheru, Tehsil Chunian, District, Kasur. The Company is principally engaged in the business of manufacturing, sale and export of textile products. Due to the un-economical condition the production of own yarn and cloth was closed down and conversion services were extended to other parties. Weaving section building and Spinning section machinery, factory building has been leased to third parties.

The symbol “MTIL” is being used by the stock exchange for the Mian Textile Mills Limited.