Annual Report on PSO.xlsx

8/14/2019 Annual Report on PSO.xlsx

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Sales Volume (Million Tons)

Profit and Loss

Account

Sales Revenue

Net Revenue

Gross Profit

Operating Profit/ (Loss)

Marketing & Administrative Expense

Profit / (Loss) Before Tax

Profit / (Loss) after Tax

EBITDA

Capex

PSO at Glance

(10,000)

(5,000)

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2012

Rupee

sinMillion


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Share Capital

Reserves

Shareholders' Equity

Property Plant & Equipment

Net Current Assets

Long Term Liabilities

Profitability Ratios

Gross Profit Ratio

Net Profit Ratio

PSO at Glance

PSO at Glance

-

10,000

20,000

30,000

40,000

50,000

60,000

2012

RupeesinMillion


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EBITDA Margin

Return on Shareholders' Equity

Return on Total Assets

Return on Captial Employed

Inventory turnover ratio

Debt Turnover Ratio

Creditor Turnover Ratio

Total asset turnover ratio

Fixed asset turnover ratio

-6

-4

-2

0

2

4

6

8

10

12

2012

Times

5

10

15

20

25

30

Times


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Earning per share

Market value per share (Year End)

Highest Price

Lowest Price

Break-Up Value

Price Earning RatioDividend per share

Bonus share

Dividend Pay out

Dividend yield

Dividend cover ratio

Interest Coverage Ratio

PSO at Glance

0

2008

0

50

100

150

200

250

300

350

2012


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Current Ratio

Quick ratio

Assets FY 12

Assets FY 11

Composition of Balance Sheet


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Equities and Liabilities FY 11

Trade paybles and other shorterm

liabilities

73%


Trade paybles and other shorterm liabilitie

71%

Composition of Balance Sheet


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Balance Sheet

Property, Plant and Equipment

Long term investmentsLong term loans, advances and receivables

Long term deposits and prepayments

Deffered tax

Total Non-Current Assets

Other Current Assets

Stores, spares and loose tools

Stock-in-trade

Trade debts

Loans and advances

Deposits and short term prepayments

Other receivables

Taxation-net

Cash and bank balances

Total Current Assets

Total Assets

Financial Analysis


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Equity and Liabilities

Share Capital

Reserves

Total Shareholders Equity

Long term deposits

Retirement and other benefits

Total long term liabilities

Trade and other payables

Provisions

Accrued interest/Mark-up

Short term borrowings

Tax payables

Total Current Liabilities

Horizontal Analysis


Total Non-Current Assets

Stock-in-trade

Trade debts

Other receivables


Total Current Assets

Total AssetsShare Capital

Reserves

Total Shareholders Equity

Total long term liabilities


Total Current Liabilities

Total Equity & Liabilities

Vertical Analysis

Profit and loss account

Sales

Sales Tax

IFEM/Levies

Financial Analysis


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Assets

Non Current Assets


Intangible Assets

Long term Investment

Long term loans, advances and receivables

Long term deposits and prepayments

deferred tax

Current Assets

Stores, spare parts and loose tools

Stock-in-trade

Trade debts

Loans and advances

Deposits and Short term prepayments

Other receiables

Taxation - Net


Net Assets in Bangladesh

Total AssetsEquity and Liabilities

Share Capital

Capital Reserves

Revenue Reserves

Non-Current Liabilities

Long term deposits

Retirement and other benefits

Current Liabilities


Provisions

Accrued interest / Markup


Total Equity and Liabilities

Contingencies and Commitments

Balance Sheet (As at June 30, 2012


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Salesless:

Salex Tax

Inland freight equalization margin

Net sales

Cost of product sold

Gross Profit

Other Operating Income

Operating Cost

Transportation Costs

Distribution and Marketing Expenses

Administrative Expenses

Depreciation

Amortisation of intengible assets

Other operating expenses

Profit from operations

Other income

Finance Cost

Share of Profit Associates

Profit before taxation

Taxation

Profit for the year

Earning Per share - basic and diluted

The annexed notes 1 to 44 form an integr

Profit & Loss Account (For the year ended June 30, 2012)


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Profit for the year

Other Comprehensive Income

Unrealised (loss) / gain due to change in fa

Share of unrealised gain due to change in f

Total compehensive income for the year

Cash Generated From Operating Activitie

Cash (used in) generated from operations

(Increase) in long term-loans, advances an

Decrease / (Increase) in long-term deposit

Increase in long-term deposits received

Taxes paid

Finance cost paidRetirement benefits paid

Net cash used in operating activities

Cash Flow from Investing Activities

Purchase of property, plant and equipmen

Purchase of intangible assets

Proceeds from disposal of operating asset

Divident received

Net cash generated from / (used in) investi

Cash Flows From Financing Activities

Short-term finances obtained / (repaid)

Dividend paid

Net cash used in financing activities

Net increase / (decrease) in cash and cash

Cash and cash equivalents at beginning of

Cash and cash equivalents at the end of th

Cash flow Statement (For the year ended June 30, 2012)

Statement of Comprehensive Income (For the year ended June 30, 2012)


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2012 2011 2010 2009

12.4 12.9 14.2 13.2

1,199,928 974,917 877,173 719,282

1,024,424 820,530 742,758 612,696

34,323 34,280 29,166 3,010

17,313 25,217 21,233 (5,577)

7,523 6,690 5,181 5,113

13,674 17,974 17,963 (11,357)

9,056 14,779 9,050 (6,699)

26,476 31,017 29,028 (3,983)

894 862 559 694

2011 2010 2009 2008

No of Years

PSO at GlanceProfit & Loss Account


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2012 2011 2010 2009

1,715 1,715 1,715 1,715

48,245 40,188 27,621 19,156

49,960 41,903 29,336 20,871

5,862 6,114 6,411 7,056

44,023 35,302 23,298 8,666

3,695 3,257 2,836 2,528

2012 2011 2010 2009

% 2.9 3.5 3.3 0.4

% 0.8 1.5 1 -0.9

2011 2010 2009

Years

Shareholders' Equity


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% 2.2 3.2 3.3 -0.6

% 18.1 35.3 30.8 -32.1

% 2.6 5.6 4.5 -4.40

% 47.2 66.2 86.6 (21.9)

2008 2009 2010 2011

12.7 14 17.7 12.7

24.6 12.6 8.9 8

9.6 6.3 6.1 5.7

5.78 5.13 4.93 4.19

74.3 98.4 130.3 155.7

2011 2010 2009


Asset Utilisation Ratios

Inventory turn

Debt Turnover

Creditor Turno

Total asset tur


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2012 2011 2010 2009

Rs. 53 86 53 -39

Rs. 236 265 260 214

Rs. 271 314 343 429

Rs. 206 237 218 96

Rs. 290 244 171 121

x 4.5Rs. 5.5 10 8 5

% 20 - - -

% 14.2 11.6 15.2 -12.8

% 2.3 3.8 3.1 2.3

x 9.6 8.6 6.6 -7.8

2012 2011 2010 2009

x 2.17 2.51 2.77 -0.89

009 2010 2011 2012

2011 2010 2009 2008

Break-Up Value


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x 1.15 1.16 1.14 1.07

x 0.84 0.72 0.79 0.75

Trade Debts Stock-in-trade Other Receivables

Cash & Bank

Balances

63% 26% 6% 0.50%

Trade Debts Stock-in-trade Other Receivables Cash & Bank Bal

48% 36% 9% 1.00%

43%

18%

4%0%0%1%

34%

Assets FY 12

9%

1%2%1%3%

Assets FY 11


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Short term borrowings Share Capital Reserves

Total Long term

liabilities

10% 1% 15% 1%

Short term borrowings Share Capital Reserves Total Long term liabilities

13% 1% 14% 1%

48%

36%

73%

10%

1%

15% 1%



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2012 2011 2010 2009

1.69% 2.33% 3.17% 4.60%

0.57% 0.88% 1% 1.40%0.11% 0.12% 0.16% 0.26%

0.04% 0.06% 0.06% 0.05%

0.37% 0.36% 0.00% 3.28%

2.78% 3.75% 4.39% 9.59%

0.04% 0.04% 0.06% 0.07%

25.48% 36.31% 28.97% 26.53%

62.75% 47.48% 58.10% 52.48%

0.15% 0.16% 0.20% 0.27%

0.73% 0.39% 0.18% 0.36%

6.08% 8.57% 7.20% 8.35%

1.53% 2.40% 0.02% 0.46%

0.47% 0.88% 0.88% 1.88%

97.23% 96.23% 95.61% 90.40%

100.00% 100.00% 100.00% 100.00%

71%

13%

1%

14%1%

qu es an a es


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0.49% 0.65% 0.855 1.12%

13.89% 15.30% 13.66% 12.49%

14.38% 15.95% 14.51% 13.61%

0.34% 0.39% 0.47% 0.56%

0.72% 0.85% 0.93% 1.09%

1.06% 1.24% 1.40% 1.65%

71.03% 73.04% 77.15% 71.78%

0.20% 0.26% 0.34% 0.45%

0.16% 0.16% 0.16% 0.36%

13.17% 9.34% 6.44% 12.16%

0.00% 0.00% 0.00% 0.00%

100.00% 99.99% 100.00% 100.01%

76% 80% 84% 92%

79% 81% 73% 121%

314% 339% 208% 144%

1861% 1065% 1003% 687%

145% 155% 100% 88%

86% 122% 94% 152%

582% 436% 333% 239%

495% 374% 288% 219%100% 100% 100% 100%

253% 210% 145% 100%

240% 201% 141% 100%

161% 142% 123% 110%

670% 521% 424% 299%

624% 462% 361% 276%

495% 374% 288% 219%

100% 100% 100% 100%

13.66% 14.15% 13.52% 13.54%

0.97% 1.68% 1.81% 1.28%


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85.37% 84.17% 84.67% 85.18%

82.51% 80.65% 81.34% 84.76%

2.86% 3.52% 3.33% 0.42%

0.10% 0.08% 0.07% 0.07%

0.63% 0.69% 0.59% 0.71%

0.10% 0.12% 0.13% 0.17%0.77% 0.23% 0.28% 0.56%

1.60% 1.12% 1.07% 1.51%

1.26% 2.40% 2.26% -1.09%

0.81% 0.61% 0.86% 0.31%

2.41% 1.73% 1.93% 1.82%

0.97% 1.22% 1.13% 0.87%

0.04% 0.05% 0.06% 0.06%

1.40% 0.46% 0.74% 0.89%

-0.38% -0.33% -1.02% 0.65%

0.75% 1.52% 1.03% -0.93%

2012 2011 2010 2009

340% 277% 249% 204%

368% 310% 266% 219%

120% 169% 163% 95%

323% 285% 248% 196%

343% 275% 249% 205%

352% 280% 254% 217%199% 199% 169% 17%

330% 222% 173% 140%

219% 195% 151% 149%

106% 105% 109% 110%

377% 91% 98% 162%

261% 148% 128% 147%

154% 237% 200% -79%

695% 428% 543% 160%

221% 261% 243% -50%

1319% 1346% 1118% 705%

127% 168% 168% -144%

45% 50% 50% 43%

120% 15% 157% -99%

119% 82% 229% -120%

120% 196% 120% -89%


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Note 2012 2011

4 5,831,993 6,084,731

5 29,991 28,822

6 1,968,073 2,314,168

7 385,497 324,554

8 123,740 148,748

9 1,292,316 957,487

9,631,610 9,858,510

10 134,431 115,339

11 88,523,794 95,378,393

12 218,022,292 124,721,832

13 526,118 430,716

14 2,528,406 1,027,381

15 21,122,166 22,520,278

5,314,752 6,311,951

16 1,624,025 2,309,006

337,795,984 252,814,896

17 - -

347,427,594 262,673,406

18 1,715,190 1,715,190

19 351,652 493,189

19 47,893,066 39,694,606

49,959,908 41,902,985

20 1,176,078 1,023,531

21 2,518,502 2,233,717

3,694,580 3,257,248

22 246,767,460 191,851,017

23 688,512 688,512

544,485 432,133

24 45,772,649 24,541,511

293,773,106 217,513,173

347,427,594 262,673,406

25

Rupees in '000


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2012 2011

1,199,927,907 974,917,064

163,861,410 137,969,158

11,642,892 16,417,542

175,504,302 154,386,700

1,024,423,605 820,530,364

(990,101,083) (786,250,059)

34,322,522 34,280,305

2,133,994 1,815,951

(1,205,394) (810,423)

(5,863,170) (5,175,233)

(1,659,530) (1,514,532)

(1,127,587) (1,120,999)

(15,491) (18,210)

(9,272,048) (2,239,725)

(19,143,220) (10,879,122)

17,313,296 25,217,134

7,550,581 4,143,710

(11,658,928) (11,903,162)

13,204,949 17,457,682

469,468 516,752

13,674,417 17,974,434

(4,618,362) (3,195,120)

9,056,055 14,779,314

52.80 86.17

l part of these financial statements.


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2008

13

583,214

495,279

30,024

22,451

4,425

21,377

14,054

23,912

620

Gross Profit

Operating Profit/ (Loss)

Profit / (Loss) after Tax

EBITDA


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2008

1,715

29,250

30,965

7,567

22,143

2,409

2008

5.1

2.4

2008

2012

2011

2010

2009

2008


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4.1

45.4

11.1

68.1

2012

13

7

5.4

3.9

200.4

Gross Profit Ratio

Net Profit Ratio

EBITDA Margin

Return on Total Assets

ver ratio

Ratio

ver Ratio

over ratio


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2008

82

417

540

318

180

23.5

-

28.7

5.6

3.5

2008

16.41

2012

2011

2010

2009

2008


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1.24

0.57

Other Current

Assets

Property, Pland and

Equipment

Long term

Investments

0.20% 2% 0.5

Other Current A Property, Pland and Long term Investments

2.00% 1% 3%

Trade Debts

Stock-in-trade

Other Receivables

Cash & Bank Balances


Property, Pland and Equipment

Long term Investments

Trade Debts


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Stoc -in-tra e

Other Receivables

Cash & Bank Balances


Property, Pland and Equipment

Long term Investments

Trade paybles and other shorterm liabilities


Share Capital

Reserves

Total Long term liabilities


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2008

5.95%

2.13%0.38%

0.06%

0.32%

8.84%

0.18%

49.06%

26.67%

0.31%

0.32%

12.34%

0.00%

2.37%

91.25%

100.00%

Trade paybles and other shorterm liabilitiesShort term borrowings

Share Capital

Reserves

Total Long term liabilities


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1.35%

23.01%

24.36%

0.66%

1.24%

1.90%

63.78%

0.57%

0.17%

8.65%

0.57%

100.00%

99%

93%

221%

289%

108%

159%

200%

181%100%

149%

149%

105%

220%

199%

181%

100%

12.70%

2.35%


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34/52


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` Note 2012

Assets

Non Current Assets

Property, Plant and Equipment 4 5,831,993Intangible Assets 5 29,991

Long term Investment 6 1,968,073

Long term loans, advances and receivables 7 385,497

Long term deposits and prepayments 8 123,740

deferred tax 9 1,292,316

9,631,610

Current Assets

Stores, spare parts and loose tools 10 134,431

Stock-in-trade 11 88,523,794

Trade debts 12 218,022,292

Loans and advances 13 526,118

Deposits and Short term prepayments 14 2,528,406

Other receiables 15 21,122,166

Taxation - Net 5,314,752

Cash and bank balances 16 1,624,025

337,795,984

Net Assets in Bangladesh 17 -

Total Assets 347,427,594


Share Capital 18 1,715,190

Capital Reserves 19 351,652Revenue Reserves 19 47,893,066

49,959,908

Non-Current Liabilities

Long term deposits 20 1,176,078

Retirement and other benefits 21 2,518,502

3,694,580

Current Liabilities

Trade and other payables 22 246,767,460

Provisions 23 688,512

Accrued interest / Markup 544,485

Short term borrowings 24 45,772,649

293,773,106

Total Equity and Liabilities 347,427,594

Contingencies and Commitments 25

Rupees i


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2011 % Change

6,084,731 -4.2%28,822 4.1%

2,314,168 -15.0%

324,554 18.8%

148,748 -16.8%

957,487 35.0%

9,858,510 -2.3%

115,339 16.6%

95,378,393 -7.2%

124,721,832 74.8%

430,716 22.1%

1,027,381 146.1%

22,520,278 -6.2%

6,311,951 -15.8%

2,309,006 -29.7%

252,814,896 33.6%

-

262,673,406 32.3%

1,715,190 0.0%

493,189 -28.7%39,694,606 20.7%

41,902,985 19.2%

1,023,531 14.9%

2,233,717 12.7%

3,257,248 13.4%

191,851,017 28.6%

688,512 0.0%

432,133 26.0%

24,541,511 86.5%

217,513,173 35.1%

262,673,406 32.3%

in '000


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Note 2012 2011

Sales 1,199,927,907 974,917,064

less:

Salex Tax 163,861,410 137,969,158

Inland freight equalization margin 11,642,892 16,417,542175,504,302 154,386,700

Net sales 1,024,423,605 820,530,364

Cost of product sold 26 (990,101,083) (786,250,059)

Gross Profit 34,322,522 34,280,305

Other Operating Income 27 2,133,994 1,815,951

Operating Cost

Transportation Costs 28 (1,205,394) (810,423)

Distribution and Marketing Expenses 29 (5,863,170) (5,175,233)

Administrative Expenses 30 (1,659,530) (1,514,532)

Depreciation 4.1 (1,127,587) (1,120,999)

Amortisation of intengible assets 5 (15,491) (18,210)

Other operating expenses 31 (9,272,048) (2,239,725)

(19,143,220) (10,879,122)

Profit from operations 17,313,296 25,217,134

Other income 32 7,550,581 4,143,710

Finance Cost 33 (11,658,928) (11,903,162)13,204,949 17,457,682

Share of Profit Associates 6.1.1 469,468 516,752

Profit before taxation 13,674,417 17,974,434

Taxation 34 (4,618,362) (3,195,120)

Profit for the year 9,056,055 14,779,314

Earning Per share - basic and diluted 35 52.80 86.17

Rupees in '000

(Rupees)


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% Change

23%

19%

-29%14%

25%

26%

0%

18%

49%

13%

10%

1%

-15%

314%

76%

-31%

82%

-2%-24%

-9%

-24%

45%

-39%

-39%


39/52

2012

Profit for the year 9,056,055

Other Comprehensive Income

Unrealised (loss) / gain due to change in fair value of

other long term investments (144,903)

Share of unrealised gain due to change in fair values of

available for sale investment associates 3,366

(141,537)

Total compehensive income for the year 8,914,518

(Rupees i


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2011 % Change

14,779,314 -0.38725

(11,844)

5,516

(6,328)

14,796,674 -0.39753

in '000)


41/52

Cash Generated From Operating Activities

Cash (used in) generated from operations 36

(Increase) in long term-loans, advances andreceivables

Decrease / (Increase) in long-term deposits and

prepayments

Increase in long-term deposits received

Taxes paid

Finance cost paid

Retirement benefits paid

Net cash used in operating activities

Cash Flow from Investing Activities

Purchase of property, plant and equipment

Purchase of intangible assets

Proceeds from disposal of operating assets

Divident received

Net cash generated from / (used in) investing activities

Cash Flows From Financing Activities

Short-term finances obtained / (repaid)

Dividend paidNet cash used in financing activities

Net increase / (decrease) in cash and cash equivalents

Cash and cash equivalents at beginning of the year

Cash and cash equivalents at the end of the year 37


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2012 2011 % Change

(13,525,483) 5,617,109

(60,943) (6,655)

25,008 (22,797)

152,547 75,055

(3,955,992) (10,417,978)

(3,138,027) (3,182,997)

(824,170) (478,081)

(21,327,060) (8,416,354) -153%

(877,017) (851,555)

(16,660) (10,782)

14,847 56,764

883,522 405,810

4,692 (399,763) 101%

23,331,017 (132,165)

(593,751) (2,173,429)22,737,266 2,305,594

1,414,898 (11,121,711)

(19,531,039) (8,409,328)

(18,116,141) (19,531,039) 7%

Rupees in '000


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# 2011 2010

Sales Volume (Million Tons) 12 12.9 14.2

Sales Revenue ## 974,917 877,173

Net Revenue ## 820,530 742,758

Gross Profit ## 34,280 29,166

Operating Profit/ (Loss) ## 25,217 21,233

Marketing & Administrative Expense ## 6,690 5,181

Profit / (Loss) Before Tax ## 17,974 17,963

Profit / (Loss) after Tax ## 14,779 9,050

EBITDA ## 31,017 29,028

Capex ## 862 559

2012 2011


Gross Profit Ratio % 2.9 3.5

Net Profit Ratio % 0.8 1.5

EBITDA Margin % 2.2 3.2

Return on Shareholders' Equity % 18.1 35.3

Return on Total Assets % 2.6 5.6

Return on Captial Employed % 47.2 66.2


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2009 2008

13.2 13

719,282 583,214

612,696 495,279

3,010 30,024

(5,577) 22,451

5,113 4,425

(11,357) 21,377

(6,699) 14,054

(3,983) 23,912

694 620

2010 2009 2008

3.3 0.4 5.1

1 -0.9 2.4

3.3 -0.6 4.1

30.8 -32.1 45.4

4.5 -4.40 11.1

86.6 (21.9) 68.1


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2011 2010 2009

Share Capital 1,715 1,715 1,715

Reserves 40,188 27,621 19,156

Shareholders' Equity 41,903 29,336 20,871

Property Plant & Equipment 6,114 6,411 7,056

Net Current Assets 35,302 23,298 8,666

Long Term Liabilities 3,257 2,836 2,528

2008 2009 2010

Inventory turnover ratio 12.7 14 17.7

Debt Turnover Ratio 24.6 12.6 8.9

Creditor Turnover Ratio 9.6 6.3 6.1

Total asset turnover ratio 5.78 5.13 4.93

Fixed asset turnover ratio 74.3 98.4 130.3

2012 2011 2010

Sales 100% 100% 100%

Sales Tax 13.66% 14.15% 13.52%

IFEM/Levies 0.97% 1.68% 1.81%

Net sales 85.37% 84.17% 84.67%

Cost of product sold 82.51% 80.65% 81.34%

Gross Profit 2.86% 3.52% 3.33%

Operating Costs

Transportation 0.10% 0.08% 0.07%

Administrative & Marketing

Expenses 0.63% 0.69% 0.59%Depreciation 0.10% 0.12% 0.13%

Other operating expenses 0.77% 0.23% 0.28%

Total Operating Costts 1.60% 1.12% 1.07%

1.26% 2.40% 2.26%

Other / Other operating

income 0.81% 0.61% 0.86%


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Profit / (Loss) from

Operations 2.41% 1.73% 1.93%

Finance cost 0.97% 1.22% 1.13%

Share of profit associates 0.04% 0.05% 0.06%

Profit / (Loss) before

Taxation 1.40% 0.46% 0.74%

Taxation -0.38% -0.33% -1.02%Net Profit / (Loss) 0.75% 1.52% 1.03%

2012 2011 2010

Sales 340% 277% 249%

Sales Tax 368% 310% 266%

IFEM/Levies 120% 169% 163%

323% 285% 248%

Net Sales 343% 275% 249%

Cost of products sold 352% 280% 254%

Gross Profit 199% 199% 169%

Operating Cost

Transportation 330% 222% 173%

Administrative & Marketing

Expenses 219% 195% 151%

Depreciation 106% 105% 109%

Other operating expenses 377% 91% 98%

Total Operating Costs 261% 148% 128%

154% 237% 200%Other/ Other Operating

Income 695% 428% 543%

Profit/ (Loss) from

operations 221% 261% 243%

Finance cost 1319% 1346% 1118%

127% 168% 168%

Share of Profit of Associates 45% 50% 50%

Profit / (Loss) before

taxation 120% 15% 157%

Taxation 119% 82% 229%

Net Profit/loss 120% 196% 120%


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2008

1,715

29,250

30,965

7,567

22,143

2,409

2011 2012

12.7 13

8 7

5.7 5.4

4.19 3.9

155.7 200.4

2009 2008

100% 100%

13.54% 12.70%

1.28% 2.35%

85.18% 84.95%

84.76% 79.77%

0.42% 5.18%

0.07% 0.06%

0.71% 0.71%0.17% 0.20%

0.56% 0.57%

1.51% 1.54%

-1.09% 3.64%

0.31% 0.29%


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1.82% 1.83%

0.87% 0.23%

0.06% 0.05%

0.89% 1.55%

0.65% -1.26%-0.93% 2.41%

2009 2008

204% 165%

219% 167%

95% 141%

196% 162%

205% 166%

217% 166%

17% 174%

140% 92%

149% 129%

110% 108%

162% 136%

147% 127%

-79% 210%

160% 123%

-50% 199%

705% 155%

-144% 203%

43% 28%

-99% 187%

-120% 188%

-89% 187%


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2012 2011

Property, Plant and Equipment 1.69% 2.33%

Long term investments 0.57% 0.88%Long term loans, advances and

receivables 0.11% 0.12%

Long term deposits and prepayments 0.04% 0.06%

Deffered tax 0.37% 0.36%

Total Non-Current Assets 2.78% 3.75%


Stores, spares and loose tools 0.04% 0.04%

Stock-in-trade 25.48% 36.31%

Trade debts 62.75% 47.48%

Loans and advances 0.15% 0.16%

Deposits and short term prepayments 0.73% 0.39%

Other receivables 6.08% 8.57%

Taxation-net 1.53% 2.40%

Cash and bank balances 0.47% 0.88%

Total Current Assets 97.23% 96.23%

Total Assets 100.00% 100.00%


Share Capital 0.49% 0.65%

Reserves 13.89% 15.30%

Total Shareholders Equity 14.38% 15.95%

Long term deposits 0.34% 0.39%

Retirement and other benefits 0.72% 0.85%

Total long term liabilities 1.06% 1.24%

Trade and other payables 71.03% 73.04%

Provisions 0.20% 0.26%

Accrued interest/Mark-up 0.16% 0.16%

Short term borrowings 13.17% 9.34%

Tax payables 0.00% 0.00%

Total Current Liabilities 100.00% 99.99%


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Horizontal Analysis

2012 2011Property, Plant and Equipment 76% 80%

Total Non-Current Assets 79% 81%

Stock-in-trade 314% 339%

Trade debts 1861% 1065%

Other receivables 145% 155%Cash and bank balances 86% 122%

Total Current Assets 582% 436%

Total Assets 495% 374%

Share Capital 100% 100%

Reserves 253% 210%

Total Shareholders Equity 240% 201%

Total long term liabilities 161% 142%

Trade and other payables 670% 521%

Total Current Liabilities 624% 462%

Total Equity & Liabilities 495% 374%


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2010 2009 2008

3.17% 4.60% 5.95%

1% 1.40% 2.13%

0.16% 0.26% 0.38%

0.06% 0.05% 0.06%

0.00% 3.28% 0.32%

4.39% 9.59% 8.84%

0.06% 0.07% 0.18%

28.97% 26.53% 49.06%

58.10% 52.48% 26.67%

0.20% 0.27% 0.31%

0.18% 0.36% 0.32%

7.20% 8.35% 12.34%

0.02% 0.46% 0.00%

0.88% 1.88% 2.37%

95.61% 90.40% 91.25%

100.00% 100.00% 100.00%

0.855 1.12% 1.35%

13.66% 12.49% 23.01%

14.51% 13.61% 24.36%

0.47% 0.56% 0.66%

0.93% 1.09% 1.24%

1.40% 1.65% 1.90%

77.15% 71.78% 63.78%

0.34% 0.45% 0.57%

0.16% 0.36% 0.17%

6.44% 12.16% 8.65%

0.00% 0.00% 0.57%

100.00% 100.01% 100.00%


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2010 2009 2008

84% 92% 99%

73% 121% 93%

208% 144% 221%

1003% 687% 289%

100% 88% 108%94% 152% 159%

333% 239% 200%

288% 219% 181%

100% 100% 100%

145% 100% 149%

141% 100% 149%

123% 110% 105%

424% 299% 220%

361% 276% 199%

288% 219% 181%

Documents

Annual Report on PSO.xlsx