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Karachi, July 26, 2013 (PPI-OT): We have to inform you that Board of Directors of our Company in their meeting held at 11.30 a.m. on Friday, 26th July 2013recommended the following:
i) Cash Dividend:
Cash Dividend for the Third Quarter ended 30th June 2013 @ Re. Nil per share. Interim Dividend has already been paid at Rs. Nil per share i.e. Nil %.
ii) Bonus Issue:
It has also been recommended by the Board of Directors to issue Bonus Shares in the proportion of Nil shares for every Nil shares held i.e. Nil %. The Bonus Shares will be entitled/ not entitled for the Right Shares.
iii) Right Shares:
The Board has also recommended to issue Nil % Right Shares at par/ at a premium of Rs. Nil per share in proportion of Nil shares for every Nil shares.
The Profit and Loss Accounts for the period ended 30th June 2013 is annexed herewith.
Condensed Interim Profit and Loss Account (Un-Audited) for the Nine Months Period Ended 30TH June-2013
For the Nine Months For the Nine Months
October to June April to June
2013 2012 2013 2012
(Rupees in thousands)
Sales 4,482,789 4,436,699 1,682,868 1,711,788
Cost of sales (4,003,478) (3,858,741) (1,523,621) (1,576,724)
--------- --------- --------- ---------
Gross profit 479,311 577,958 159,247 135,064
Distribution expenses (121,111) (14,627) (34,891) (28,917)
Administrative expenses (97,550) (89,490) (30,175) (30,129)
Other Operating Charges (4,482) (14,103) (352) 1,250
--------- --------- --------- ---------
(223,143) (178,220) (65,418) (57,796)
--------- --------- --------- ---------
Operating Profit 256,168 399,738 93,829 77,268
Other Operating Income 14,882 15,596 4,340 8,965
--------- --------- --------- ---------
271,050 415,334 98,169 86,233
Finance Cost (245,015) (260,598) (94,380) (105,315)
--------- --------- --------- ---------
Profit/ (Loss) before taxation 26,035 154,736 3,789 (19,082)
Taxation 11,230 (47,262) (2,930) 25,060
--------- --------- --------- ---------
Profit/(Loss) for the period 37,265 107,474 859 5,978
--------- --------- --------- ---------
Earnings per share-Basic and
diluted-Rupees 1.76 5.09 0.04 0.28
For more information, contact:
M. Yasin Mughal
Company Secretary
Shahmurad Sugar Mills Limited
96-A, Sindh Muslim Housing Society,
Karachi-74400, Pakistan.
Tel: 34550161-63, 34550030-31,
Fax: (92-21) 34556675
E-Mail: alnoor@dslplus.net.pk