Karachi: The profit after tax of Gul Ahmed Textile Mills has increased to Rs 1,196.457 million in the year ended June 30, 2011 (FY11) as compared to Rs 477.533 million earned in FY10. The company’s earning per share increased to Rs 18.85 in the period under review against Rs 7.52 in the same period last year.
The board of directors of the company in its meeting held on October 01, 2011 recommended issue of bonus shares in the ratio of one share for every one share held, i.e. 100 percent to the shareholders whose names shall appear in the members register as on October 24, 2011.
According to the financial results sent to Karachi Stock Exchange, the company’s sales increased to Rs 25.435 billion in FY11 against Rs 19.688 billion in FY10. The cost of sales increased to Rs 20.808 billion against Rs 16.515 billion. The company’s profit before taxation increased to Rs 1,537.454 million in FY11 as compared to Rs 708.227 million in FY10