Sindh Abadgar’s Sugar Mills Limited’s financial results for the third quarter ended June 30th, 2012

[ 0 ] July 25, 2012 | Financial Results

Karachi, July 25, 2012 (PPI-OT): We have to inform you that the Board of Directors of our company in their meeting held on Tuesday 24th July, 2012 at 4:00 p.m. at its registered office 209, 2nd Floor, Progressive Plaza, Beaumont Road, Karachi recommended the following:

(I) Cash Dividend

An Interim Cash Dividend for the third quarter year ended 30th June, 2012, at Rs. Nil per share i.e. Nil %. This is in addition to Interim Dividend (s) already paid at Rs. Nil per share i.e. Nil %.

And/ Or

(II) Bonus Shares

It has been recommended by the Board of Directors to issue Interim Bonus Shares in proportion of Nil share(s) for every Nil share(s) held i.e. Nil %. This is in addition to the Interim Bonus Shares already issued @ Nil %.

And/ Or

(III) Right Shares

The Board has recommended to issue Nil % Right Shares at par/at a discount premium of Rs. Nil per share in proportion of Nil share(s) for every Nil share(s). The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.

And/ Or

(IV) Any Other Entitlement/Corporate Action

And/ Or

(V) Any Other Price-Sensitive Information

The financial results of the Company are as follows:

	For the Nine Months		For the Quarter
	June 30	June 30	June 30	June 30
	2012	2011	2012	2011
	Rupees
Sales – Net	794,522,774	538,513,833	403,408,886	95,440,753
Cost of sales	(783,023,349)	(445,775,213)	(394,455,323)	(88,153,170)
	———–	———–	———–	———-
Gross profit/ (loss)	11,499,425	92,738,820	8,953,662	7,287,583
Operating expenses
Administrative expenses	(49,780,033)	(48,393,978)	(15,586,960)	(14,682,822)
Distribution cost	(3,084,312)	(1,952,884)	(827,969)	(262,571)
	———–	———–	———–	———-
	(52,864,345)	(50,345,862)	(16,414,929)	(14,945,393)
	———–	———–	———–	———-
Operating (loss)/ profit	(41,364,920)	42,391,758	(7,461,367)	(7,857,810)
Financial charges	(43,498,890)	(35,595,334)	(16,896,564)	(24,411,066)
Other income / (charges)	13,119,810	12,804,623	6,097,408	7,829,977
	———–	———–	———–	———-
	(30,379,080)	(22,790,711)	(10,799,158)	(16,581,089)
	———–	———–	———–	———-
(Loss) / Profit before taxation	(71,744,000)	19,601,047	(18,260,523)	(24,238,899)
Provision for taxation	(9,571,925)	(20,500,000)	(5,032,757)	(20,500,000)
	———–	———–	———–	———-
(Loss) /profit before taxation	(81,316,925)	(898,953)	(23,293,280)	(44,738,899)
	———–	———–	———–	———-
(Loss)/ earning per share – basic and diluted	(7.80)	(0.09)	(2.23)	(4.29)

For more information, Contact:
Deoo Mal Essarani
Chairman/ Chief Executive
Sindh Abadgar’s Sugar Mills Limited
209, 2nd floor, progressive Plaza,
Beaumont Road, Karachi
Tel: 35638212-13
Fax: (92-21) 35638219
E-mail: sasm@unitedgoup.org.pk

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