ASIM TEXTILE MILLS LIMITED

DIRECTORS’ REPORT TO THE MEMBERS

Your directors are pleased to present 3rd quarter and nine months accounts for the period ended March 31, 2009. 

The company has incurred net loss of Rs. 8.576 million as compared to net profit of Rs. 5.932 million of corresponding period of last year. The increase in prices of raw material, store & spares and electricity has resulted in loss during the current period as compared to the corresponding period of last year. 

Earning per share (EPS) for the 3rd quarter is Rs. (0.30) and Rs. (0.57) for nine months period as compared to (EPS) of Rs. 0.32 for 3rd quarter and Rs. 0.39 for nine months period in the corresponding period of last year. 

Transactions with related parties are carried out at arms length. The prices are determined in accordance with comparable uncontrolled price method. The power if purchased from related parties is at WAPDA power tariff. 

The management would like to place on record its appreciation for the continuous support of its shareholders, customers and employees and expect to receive same cooperation in future.

for and on behalf of the Board

ZAHID ANWAR                                                                                      FAISALABAD. 

CHIEF EXECUTIVE                                                                                 27.04.2009