Daily Archives: May 27, 2011

JDW Sugar Mills Limited’s Financial Results for the Half Year Ended March 31, 2011

Karachi: We have to inform you that the Board of Directors of JDW Sugar Mills Limited (JDWS) in their meeting held on May 27, 2011 at 11:00 a.m. at 17-Abid Majeed Road, Cantt Lahore, have approved the following. The financial results of the Company for the Half Year ended March 31, 2011 are as follows:   Six months ended Quarter ended 31 March 31 March 31 March 31 March 2011 2010 2011 2010 Rupees Rupees Rupees Rupees   Restated   Restated Gross sales 15,302,446,909 10,922,100,024 9,376,064,865 5,601,506,791 Less Sales tax and special Excise duty 894,571,833 543,146,294 641,656,733 252,663,899   ---------------- --------------- --------------- --------------- Net sals 14,407,875,076 10,378,953,730 8,734,408,132 5,348,842 892 Cost of sales (11,243,598,584) (7,960,530,584) (6,935,763,624) (4,461,038,016)   ---------------- --------------- --------------- --------------- Gross profit 3,164,276,492 2,418,423,146 1,798,644,508 887,804,876 Administrative expenses (193,472,788) (165,090,963) (113,152.758) (91,137,241) Distribution and marketing expenses (9,155,291) (8,215,464) (5,732,636) (4,018,644) Other operating expenses (263,352,542) (156,235,143) (144,414,833) (56,406,157) Other operating income 33,271,115 33,859,352 20,775,404 21,521,978   (432,709,506) (295,682,218) (242,524,823) (130,040,064) ---------------- --------------- --------------- --------------- Operating profit 2,731,566,986 2,122,740,928 1,556,119,685 757,764,812 Finance cost (455,029,257) (555,946,575) (296,333,576) (333,870,597)   ---------------- --------------- --------------- --------------- Profit before taxation 2,276,537,729 1,566,794,353 1,259,786,109 423,894,215 Taxation (920,302,584) (775,672,318) (595,056,461) (221,461,293)   ---------------- --------------- --------------- --------------- Profit after taxation 1,356,235,145 791,122,035 664,729,648 202,432,922   ---------------- --------------- --------------- --------------- Basic earnings per share 25.l7 16.33 12.34 4.18   ---------------- --------------- --------------- --------------- Announcement of Right Shares: The Board of Directors has decided to issue ten percent (10%) right shares at price of Rs. 70 per share (inclusive per share premium of Rs. 60) in proportion of 1 (one) share for every 10 (ten) shares. The share transfer books of the Company will be closed from June 23, 2011 to June 30, 2011 (both days inclusive) for the purpose to determine the said right shares entitlement. Transfers received at the office of Shares' Registrar at Wing Arcade, 1-K Commercial, Model Town, Lahore, at the close of business on June 22, 2011 will be treated in time for the purpose of above entitlement to the transferees.   It is further informed that no Cash Dividend or Bonus Shares have been recomme6nded by the board. For mor information, contact: Muhammad Rafique Company Secretary JDW Sugar Mills Limited 17-Abid Majeed Road, Lahore Cantt Lahore, PABX #: +9242 36664891-92 Fax: +9242 36654490 Email jdwho@jdw-group.com

Read More »

Shahtaj Sugar Mills Limited’s Financial Results for the half year ended 31.03.2011

Karachi: We have to inform you that Board of Directors of our Company in their meeting held today, Friday the 27th May 2011 at 11.00 A.M. have not recommended any cash dividend or any other benefit. The financial results of the Company are as follows:   Half year ended Second Quarter ended March 31 March 31 2011 2010 2011 2010 (Rupees in thousands) (Rupees in thousands) Sales - net 2,359,16 1,596,103 1,816,905 1,249,483 Cost of sales 1,929,140 1,561,679 1,484,699 1,264,295   --------- --------- --------- --------- Gross Profit (loss) 430,029 34,424 332,206 (14,812) Distribution cost 4,575 3,868 3,197 2,836 Administrative expenses 74,269 63,408 47,729 39,926 Other operating expenses 27,308 4,806 21,520 1,759 Other operating income (10,316) (19,517) (4,313) (8,746)   --------- --------- --------- --------- 95,836 52,565 68,133 35,775 Operating profit / (loss) 334,193 (18,141) 264,073 (50,587) Finance cost 32,188 26,259 30,991 25,749   --------- --------- --------- --------- 302,006 (44,400) 233,082 (76,336) Share of profit in associates - net 12,799 4,523 12,799 4,523   --------- --------- --------- --------- Profit/ (loss) before taxation 314,804 (39,877) 245,881 (71,813) Taxation 104,341 6,430 80,216 (1,102)   --------- --------- --------- --------- Net profit /(loss) for the period 210,463 (46,307) 165,665 (70,711)   --------- --------- --------- --------- Earnings per ordinary share -         Basic arid Diluted (Rupees) 17.52 (3.86) 13.79 (5.89)   --------- --------- --------- --------- For more information, contact: Jamil Ahmad Butt Company Secretary Shahtaj Sugar Mills Limited 19, Dockyard Road, West Wharf, P.O. Box No. 4766, Karachi – 74000, Pakistan. Tel: +9221 32313934-38 Fax: +9221 32310623 Email: jamilbutt@shahtaj.com

Read More »

The Premier Sugar mills and Distillery Company Limited’s Financial Results for Half Year Ended March 31, 2011

Karachi:  We are pleased to inform you that the Board of Directors in the meeting held on Friday May 27, 2011 at 10.30 am. have approved the interim financial results of the Company for half year ended March 31, 2011. The Financial results are as follows:   For the 2nd Quarter Cumulative Jan - Mar Jan - Mar Oct - Mar Oct - Mar 2011 2010 2011 2010 Rupees in thousand Turnover 43,824 37,917 392,509 184,128 Less: sales tax and special excise duty 990 2,565 14,893 13,576   --------- -------- --------- -------- 42,834 35,352 377,616 170,552 Cost of sales 168,372 55,592 517,331 207,948   --------- -------- --------- -------- Gross loss (125,538) (20,240) (139,715) (37,396) Distribution cost 293 173 741 352 Administrative expenses 15,799 14,227 29,839 29,810 Other operating expenses (322) (374) 5 305   --------- -------- --------- -------- 15,770 14,026 30,585 30,467 --------- -------- --------- -------- (141,308) (34,266) (170,300) (67,863) Other operating income 37,546 104,135 71,697 138,141   --------- -------- --------- -------- Operating (loss) /profit (103,762) 69,869 (98,603) 70,278 Finance cost 13,750 33 14,560 100   --------- -------- --------- -------- (Loss)/ profit before taxation (117,512) 69,836 (113,163) 70,178 Taxation         Current (1,932) 319 1,447 995 Deferred (45,625) 5,965 (38,893) 5,965   --------- -------- --------- -------- (47,557) 6,284 (37,446) 6,960 --------- -------- --------- -------- (Loss)/ profit after taxation (69,955) 63,552 (75,717) 63,218 Other comprehensive income 0 0 0 0   --------- -------- --------- -------- Total comprehensive (loss) / income for the period (69,955) 63,552 (75,717) 63,218   --------- -------- --------- -------- (Loss)/ earnings per share (18.65) 16.95 (20.19) 16.86   --------- -------- --------- -------- For more information, contact: Mujahid Bashir Company Secretary The Premier Sugar mills and Distillery Company Limited Kings's Arcade, 20-A, Markaz F-7, P.O.Box 1529, Islamabad. Tel: +9251 2650805-7 Fax: +9251 2651285-6

Read More »

Baba Farid Sugar Mills Limited’s Financial Results for the Second Quarter Ended March 31, 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held on May 27, 2011 at 11:00 a.m. at T-09, 3rd Floor, Hafeez Center, Main Boulevard, Gulberg-III, and Lahore has approved the following financial results for the Half Year ended March 31, 2011 for onward dissemination to the members of the Exchange. The Dividend for the Quarter under review is regretfully passed over.   Rupees Rupees For the Half Year For the Quarter March 31 March 31 March 31 March 31 2011 2010 2011 2010 Sales 118,004,098 657,593,181 59,953,378 513,587,325 Cost of Sales 110,853,895 779,186,411 54,111,674 619,566,513   ------------ ------------- ------------ ------------- 7,150,203 (121,593,230) 5,841,704 (105,979,188) Operating Expenses         Distribution Costs 2,203,634 1,422,525 1,946,706 1,178,003 Administrative 16,611,913 28,414,712 9,039,951 16,717,991 Other Operating Expenses - 302,990 - 224,490   ------------ ------------- ------------ ------------- 18,815,547 30,140,227 10,986,657 18,120,484 Operating Loss (11,665,344) (151,733,457) (5,144,953) (124,099,672) Finance Cost 86,489,386 15,965,394 48,976,182 6,019,146   ------------ ------------- ------------ ------------- (98,154,730) (167,698,851) (54,123,135) (132,118,818) Other Operating Income 10,565 31,324 10,564 19,354   ------------ ------------- ------------ ------------- (Loss) / Profit Before Taxation (98,144,165) (167,667,527) (54,112,570) (132,099,464) Taxation         Deferred (20,543,759) 6,362,719 (20,543,759) 3,181,360 For the Period (1,159,229) (3,487,121) (578,722) (2,758,586)   ------------ ------------- ------------ ------------- (21,702,988) 2,875,598 (21,122,481) 428,774 ------------ ------------- ------------ ------------- (Loss) / Profit after Taxation (119,847,153) (164,791,929) (75,235,051) (131,676,690)   ------------ ------------- ------------ ------------- (Loss) / Earning per Share-Basic And Diluted Rs. (12.68) (17.44) (7.96) (13.93)   ------------ ------------- ------------ ------------- For more information, contact: Muhammad Ibrahim Company Secretary Baba Farid Sugar Mills Limited 1st Floor, Panorama Centre # 2, Raja Ghazanfar Ali Khan Road, Saddar, Karachi. UAN: +9221 111-133-280 Tel: +9221 35682178 Email: fecto@fecto.com

Read More »

Remarks by President’s Spokesperson on the meeting with Secretary of State Clinton


Islamabad: US Secretary of State Hillary Clinton today held a one on one and delegation level talks with President Asif Ali Zardari in the Presidency. Hillary Clinton was accompanied with US Ambassador Cameron Munter, Michael Mullen Chairman Joint Chiefs of Staff and senior officials of the State Department and the US embassy in Islamabad. The Pakistan side included Prime Minister Yousuf Raza Gilani, Interior Minister Rahman Malik, COAS General Pervez Ashfaq Kayani, Minister of State Hina Rabbani Khar, Foreign Secretary [...]

Read More »

Forced out of town by ethnic violence


Karachi: Aly Khan fled Quetta city, provincial capital of the south-western province of Balochistan, after several of his family members were attacked in inter-ethnic violence perpetrated by extremist groups, and moved to Islamabad to start a new life. “It was a decision between choosing our lives or our homeland,” he said. “Balochistan is our home, but we have been forced to leave the place where our elders have lived because of our sects. The Shia-Sunni conflict was exploited by Gen [...]

Read More »

24th Investiture Ceremony of the Students Council held at Capital Development Authority Model School


Islamabad: The Capital Development Authority (CDA) would involve school children in the campaign for conservation of environment and recently launched Anti-Litter Drive – 2011 as they are the role model and the catalysts for the change. This was stated by the Chairman CDA, Imtiaz Inayat Elahi while addressing the 24th Investiture Ceremony of the Students Council here at CDA Model School. The newly elected student’s council of CDA Model School took oath on this occasion Chairman CDA Imtiaz Inayat Elahi [...]

Read More »