Karachi: Berger Paints Pakistan Limited informed Karachi Stock Exchange about recommendations made by the board of directors in the meeting held at Karachi on October 28, 2015.
Financial results of the company both Stand alone (excluding subsidiaries) and consolidated profit and loss account for year ended June 30, 2015 portrayed a profit of Rs.109,153 and earnings per share 6.00 basic and diluted and consolidated profit and loss account for year ended June 30, 2015 portrayed a profit of Rs. 110,318 and earnings per share 6.03 basic and diluted
Further, 10% payment of cash dividend, nil payment of bonus shares and right shares was agreed.
The annual general meeting of the company will be held on October 29, 2015 at Lahore.
Further, the share transfer books of the company will remain closed from October 23, 2015 to October 29, 2015 both days inclusive.
Berger Paints Pakistan Limited was incorporated in Pakistan on March 25, 1950 as a private limited company under the Companies Act, 1913 now Companies Ordinance, 1984 and was subsequently converted into a public limited company in 1974. Slotrapid Limited, based in British Virgin Island is the holding company. The company is engaged in the manufacturing of paints, varnishes and other related items. The shares of the company are quoted on the Karachi and Islamabad stock exchanges of Pakistan. The registered office of the company is situated at Karachi and the principle manufacturing facility of the company is situated at Lahore.
The company has number of technical collaboration arrangements with leading international manufacturers. These include paint companies which enable developing Automotive, Vehicle Refinishes and Industrial Paints conforming to international standards; a Japanese chemical company, for Bumper Paints; PCS Powders, UK for Powder Coatings; DPI Sendirian Berhad, Malaysia for Road & Runway Markings; Cerachem for Construction Chemicals and Asian Paints for Decorative Paints. The company has also acquired distribution rights of DuPont for Pakistan’s vehicle refinish paint segment.
The symbol “BERG” is being used by the stock exchanges for the shares of Berger Paints.