Pakistan Company News – Financial results of Chakwal Spinning Mills Limited for Year ended June 30, 2018

Financial results of Chakwal Spinning Mills Limited for Year ended June 30, 2018

Karachi, Chakwal Spinning Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on November 05, 2018.

The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2018 which portrayed a loss of Rs. 93,260,624 with loss per share 2.33 basic and diluted respectively.

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

Furthermore, the share transfer books of the company will remain closed from November 21, 2018 to November 27, 2018 (both days inclusive).

Chakwal group has around 160,000 spindles, which are operationally organized into 6 spinning units; the entire machinery is from world-renowned manufactures. Chakwal Spinning consists of 34,552 Spindles. The flag ship company of Chakwal Group is Kohinoor Spinning comprising of 80,000 spindles, distributed into three separate units which are tailor made to make specialized yarns. The unit has its own in house doubling and is capable of producing 75 tons of cotton and blended yarn per day.

The symbol “CWSM” is being used by the stock exchanges for the shares of Chakwal Spinning Mills Limited.