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Karachi, Al-Abbas Sugar Mills Limited has declared an interim cash dividend of Rs. 15.00 per share, which represents a 150% dividend rate, for the quarter ended March 31, 2024. This decision was made by the Board of Directors during their meeting held on May 21, 2024. According to information available from the Pakistan Stock Exchange (PSX), the company will not be issuing any bonus or right shares. The Share Transfer Books of the Company will remain closed from May 29, 2024, to May 31, 2024.
The company’s financial performance for the half year ended March 31, 2024, showed a net turnover of Rs. 9,451,634 thousand, a significant increase from Rs. 6,432,020 thousand in the previous year. Cost of sales was reported at Rs. 6,706,636 thousand, leading to a gross profit of Rs. 2,744,998 thousand. Operating profit for the period stood at Rs. 1,864,895 thousand after accounting for distribution and administrative expenses. The finance cost for the period was Rs. 283,862 thousand, and the profit after taxation was Rs. 1,489,980 thousand. Earnings per share were reported at Rs. 85.82.
The quarterly results for the period ended March 31, 2024, will be transmitted through PUCARS within the specified time.