Annual Report 2012 of Metro Spinning Limited

Here broadly described the Annual report of Metro Spinning Limited in the year of 2012. Consolidated Sales amounted to Tk. 76.63 Crore; consolidated Gross Profit stood at Tk. 12.04 Crore and consolidated Net Loss summed to Tk (5.28) Crore for the Year Ended on 30 June 2012. During the Year under review, the Company was able to make Sales of Tk. 76.63 Crore, which is also Tic 32.17 Crore (29.56%) lower than the Previous Year. Net loss before Tax is TIc (4.89) Crore which is Tic 14.73 Crore lower than the previous Year.

The dividend proposed this company has earned Net Profit before Tax to the extent of Tk. (4.89) Crore and Retained Earnings of Tk. (5.28). Keeping in view with the performance of the company, the Board of Directors recommended 10% Stock Dividend (i.e. 50 Bonus Shares for every 500 shares) for the year ended on 30 June 2012 by utilizing reserve of Tk. 4.76 Crore out of Tk. 12.36 Crore despite having the net loss of Tk. (5.28) Crore. During the Financial Year under review, the Company has contributed an amount of. Tk.12.28 Million to National Exchequer as Value Added Tax, Customs Duty, and Income Tax.The board of directors recommended 10% Stock Dividend (i.e. 50 Bonus Shares for every 500 shares) for the year ended on 30 June 2012 by utilizing reserve of Tk 4.76 Crore out of Tic 12.36 Crore despite having the net loss of Tk (5.28) Crore. We are confident that you will stand by this decision for the long-term prospects of the company.

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