Financial Results

Karachi: We have to inform you that the Board of Directors of our Company in... more »

Karachi: We have to inform you that the Board of Directors of our Company in... more »

  Karachi: We have to inform you that the Board of Directors of the Company... more »

Karachi: We have to inform you that Board of Directors of our Company in their... more »

Karachi: We are enclosing herewith a letter under sealed envelope covering Financial Results for half year ended 31st March, 2011 as approved by the board of Directors at its meeting held on 20th May, 2011 at 4:00 pm. We have to inform you that the Board of Directors of our Company in their meeting held on Friday, the 20th May 2011 at 4:00 p.m. at its registered office 209, 2nd Floor. Progressive Plaza Beaumonl Road Karachi, recommended, the following: (i) Cash Dividend An Interim Cash Dividend for the period ended 31st March, 2011 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-%. (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 pries-Sensitive Information The financial results of the Company are as follows:   For The Half Year Ended For The Quarter Ended   March 31, 2011 March 31, 2010 March 31, 2011 March 31, 2010   Rupees Sales – net 443,073,080 81,632,688 376,116,382 57,740,427 Cost of goods sold (357,622,043) (79,782,789) (283,139,814) (58,176,594)   ----------- ----------- ----------- ----------- Gross Profit (Loss) 85,451,037 1,849,899 92,976,568 (436,167)   ----------- ----------- ----------- ----------- Operating Expenses         Administrative expenses (33,711,156) (30,269,568) (21,121,341) (17,790,693) Selling and distribution cost (1,690,313) (1,226,360) (1,237,192) (952,404)   ----------- ----------- ----------- -----------   (35,401,469) (31,495,928) (22,358,533) (18,743,097)   ----------- ----------- ----------- ----------- Operating Profit/ (Loss) 50,049,568 (29,646,029) 70,618,035 (19,179,264) Finance cost (11,184,268) (19,973,878) (7,182,451) (14,643,960) Other income 4,974,646 1,452,914 3,353,866 771,823   ----------- ----------- ----------- -----------   (6,209,622) (18,520,964) (3,828,585) (13,872,137) Profit / (Loss) before taxation 43,839,946 (48,166,993) 66,789,450 (33,051,401) Taxation - current (22,625,742) (895,663) (22,625,742) -   ----------- ----------- ----------- ----------- Profit / (Loss) after Taxation 21,214,204 (49,062,656) 44,163,708 (33,051,401)   ----------- ----------- ----------- ----------- Profit/(Loss) per share – basic and diluted 2.03 (4.71) 4.24 (3.17)   ----------- ----------- ----------- ----------- For more information, contact: Deoo Mal Essarani Chairman/Chief Executive Sindh Abadgar’s Sugar Mills Limited 209, 2nd floor, Progressive Plaza, Beaumonl Road, Karachi-Pakistan. Tel: +9221 35638212-13 Fax: +9221 35638219 E-mail sasm@unitedgroup.org.pk

Karachi: We have to inform you that Board of Directors of our Company in their... more »