Reliance Cotton Spinning Mills Limited Reports Audited Standalone and Consolidated Earnings Results for the Year Ended June 30, 2018; Announces Final Cash Dividend for the Year Ended June 30, 2018
October 03, 2018 at 02:51 pm EDT
Share
Reliance Cotton Spinning Mills Limited reported audited standalone and consolidated earnings results for the year ended June 30, 2018. For the year, on standalone basis, the company reported revenue of PKR 4,398,017,387 against PKR 3,570,713,354 a year ago. Operating profit before finance cost was PKR 440,019,424 against PKR 279,099,712 a year ago. Profit before taxation was PKR 343,867,234 against PKR 208,039,754 a year ago. Profit for the year was PKR 316,080,539 or PKR 30.71 per basic and diluted share against PKR 190,859,883 or PKR 18.54 per basic and diluted share a year ago. Net cash used in operating activities was PKR 373,482,832 against net cash generated from operating activities of PKR 287,156,553 a year ago. Addition to property, plant and equipment was PKR 194,450,356 against PKR 105,586,717 a year ago.
For the year, on consolidated basis, the company reported revenue of PKR 4,398,017,387 against PKR 3,570,713,354 a year ago. Operating profit before finance cost was PKR 439,041,139 against PKR 266,038,075 a year ago. Profit before taxation was PKR 396,930,206 against PKR 253,791,704 a year ago. Profit for the year attributable to owner of parent was PKR 358,006,395 or PKR 34.78 per basic and diluted share against PKR 228,994,025 or PKR 22.25 per basic and diluted share a year ago.
The company announced a final cash dividend of PKR 6.5 per share for the year ended June 30, 2018. The above entitlement will be paid to the shareholders whose names appear in the register of the members on October 17, 2018.
Reliance Cotton Spinning Mills Limited is a Pakistan-based company engaged in the manufacture and sale of yarn. The Company produces quality yarns from 6 Ne to 80 Ne (single and double), plied, slubs, melanges, blends and a variety of other yarns from special fibers to suit every customer in every need. The Company's products include Acrylic, Slub, Imported Cotton, Melange, Air Cell, Modal, Air Creation, Coolmax, Eslon, Trivera, Viscose and Tencel. The Company offers Melange yarn for knitting, socks, weaving and knitwear. It produces carded and combed, and single and folded varieties of Melange yarn. The Company produces Melange yarn in cotton, as well as cotton blends with viscose, polyester, acrylic, linen, modal, wool or silk. It offers a range of Melange fabrics, including Cotton Melange, Mix Melange, Ash Melange and Polyester Cotton (PC) Melange. The Company's mill is located at Warburton Road, Ferozewattoan, Sheikhupura District, Punjab.
Reliance Cotton Spinning Mills Limited Reports Audited Standalone and Consolidated Earnings Results for the Year Ended June 30, 2018; Announces Final Cash Dividend for the Year Ended June 30, 2018