AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: We have to inform you that Board of Directors of our Company in their Meeting held on Tuesday, May 24, 2011 at 12:00 p.m. at the registered office of the company recommended the following:
1) Cash Dividend NIL
2) Bonus Shares NIL
3) Right Shares NIL
The financial results of the Company are as following:
| Half Year Ended | Quarter Ended | |||
| March 31 | March 31 | March 31 | March 31 | |
| 2011 | 2010 | 2011 | 2010 | |
| Rupees | Rupees | |||
| Sales – net | 2,199,112,886 | 1,027,244,613 | 2,020,063,322 | 537,434,345 |
| Cost of sales | (1,989,914,065) | (906,735,341) | (1,829,391,640) | (448,029,755) |
| ————- | ————- | ————- | ————- | |
| Gross profit | 209,198,821 | 120,509,272 | 190,671,682 | 89,404,590 |
| Administrative expenses | (18,019,562) | (14,741,225) | (10,897,752) | (8,838,121) |
| Selling expenses | (1,676,391) | (870,852) | (1,576,385) | (705,372) |
| ————- | ————- | ————- | ————- | |
| (19,695,853) | (15,612,077) | (12,474,137) | (9,543,483) | |
| ————- | ————- | ————- | ————- | |
| Operating profit | 189,502,868 | 104,897,195 | 178,197,545 | 79,861,097 |
| Other operating income | 3,472,494 | 7,477,348 | 2,446,809 | 366,613 |
| ————- | ————- | ————- | ————- | |
| 192,975,362 | 112,374,543 | 180,644,354 | 80,227,710 | |
| Financial charges | (28,984,067) | (18,720,085) | (27,407,486) | (14,816,191) |
| Workers’ profit | ||||
| participation fund | (8,199,565) | (4,682,723) | (7,583,015) | (3,270,577) |
| Workers’ welfare fund | (3,299,597) | (1,779,435) | (3,065,308) | (1,253,342) |
| ————- | ————- | ————- | ————- | |
| (40,483,229) | (25,182,243) | (38,055,809) | (19,340,110) | |
| ————- | ————- | ————- | ————- | |
| Profit before taxation | 152,492,133 | 87,192,300 | 142,588,545 | 60,887,600 |
| Taxation | ||||
| Current | (56,588,083) | (29,881,083) | (51,543,180) | (27,432,032) |
| Deferred | 2,447,443 | (3,158,293) | 2,447,443 | (3,158,293) |
| ————- | ————- | ————- | ————- | |
| (54,140,640) | (33,039,376) | (49,095,737) | (30,590,325) | |
| ————- | ————- | ————- | ————- | |
| Profit after taxation | 98,351,493 | 54,152,924 | 93,492,808 | 30,297,275 |
| Earning per share – Basic and diluted | 17.06 | 9.40 | 16.22 | 5.26 |
For more information, contact:
Chief Executive
Adam Sugar Mills Limited
Haji Adam Chambers,
P.O. Box 42-4,
Altaf Hussain Road,
New Challi,
Karachi-Pakistan
Telegrams: Sweet Sugar
Telex: 25183 ADAM PK
Fax: +9221 32427560