Adam Sugar Mills Limited’s re: financial results for the third quarter ended 30 June, 2013 : AsiaNet-Pakistan

Adam Sugar Mills Limited’s re: financial results for the third quarter ended 30 June, 2013

July 25, 2013 | Financial Results | Share:

Karachi, July 25, 2013 (PPI-OT): We have to inform you that Board of Directors of our Company in their Meeting held on Thursday, 25 July, 2013 at 12:00 noon 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 follows:

                                                 For the Third Quarter Ended                       Quarter ended
                                                 Oct 2012,           Oct 2011,             Oct 2013,           Oct 2012,
                                                    to                  to                    to                  to
                                                June 2013           June 2012             June 2013           June 2012
                                                             Rupees                                   Rupees

Sales-net                                     1,850,481,026       1,209,228,040          591,998,034         529,364,956
Cost of sales                                (1,590,662,466)     (1,029,927,678)        (548,975,906)       (502,645,755)
                                              -------------       -------------          -----------         -----------
Gross profit                                    259,818,560         179,300,362           43,022,128          26,719,201
Administrative expenses                         (33,208,958)        (33,531,792)          (9,599,862)        (12,874,591)
Selling expenses                                 (7,133,263)         (2,224,192)          (3,759,607)           (238,647)
                                              -------------       -------------          -----------         -----------
                                                (40,342,221)        (35,755,984)         (13,359,469)        (13,113,238)
                                              -------------       -------------          -----------         -----------
Operating profit                                219,476,339         143,544,378           29,662,659          13,605,963
Other operating income                           12,649,015          10,561,647            4,237,173           6,581,060
                                              -------------       -------------          -----------         -----------
                                                232,125,354         154,106,025           33,899,832          20,187,023
Financial Charges                               (56,871,570)        (59,375,236)         (37,306,154)        (40,092,572)
Other Operating Charges                         (12,092,511)         (6,536,424)             234,193           2,362,647
                                              -------------       -------------          -----------         -----------
                                                (68,964,081)        (65,911,660)         (37,071,961)        (37,729,925)
                                              -------------       -------------          -----------         -----------
Profit/ (loss) before taxation                  163,161,273          88,194,365           (3,172,129)        (17,542,902)
Taxation
Current                                         (18,504,810)        (27,970,982)         (12,212,395)          7,348,522
Deferred                                        (63,547,847)         (2,677,510)           3,564,224                 -
                                              -------------       -------------          -----------         -----------
                                                (82,052,657)        (30,648,492)          (8,648,171)          7,348,522
                                              -------------       -------------          -----------         -----------
Profit/ (loss) after taxation                    81,108,616          57,545,873          (11,820,300)        (10,194,380)
                                              -------------       -------------          -----------         -----------
Earnings per share-basic and diluted                   14.07                9.98                (2.05)              (1.77)

We will be sending you 300 copies of printed accounts for distribution amongst members of the Exchange in due course of time.

For more information, contact:
Chief Executive
Adam Sugar Mills Limited
Haji Adam Chambers, P. O. Box 4274,
Altaf Hussain Road, New Challi,
Karachi-Pakistan
Phone: 32417812-16, 32401139-43
Fax: 32427560 / 32417907

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Category: Financial Results