Haseeb Waqas Sugar Mills Limited’s financial results for the annual accounts ended on September 30, 2011

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Karachi: This is to inform you that the Board of Directors’ Meeting of the Company held at 04:00 p.m. on Tuesday, December27, 2011 has considered and approved the annual accounts of the Company for the year ended on September 30, 2011.

Approved Financial results of the company for the period under review are being provided through “Annexure A” enclosed herewith.

Moreover, during the period under review, the Board has not recommended any entitlement.

The Annual General Meeting of the company will be held on January 25, 2012 at 09.00 a.m. at its registered office, 06-F, Model Town, Lahore.

The Share Transfer Books of the Company will remain closed from January 18, 2012 to January 25, 2012 (both days inclusive). Transfer received at the registrar’s office of the company i.e. M/s Hameed Majeed Associates (Pvt.) Limited, H.M. House, 7-Bank Square, Lahore, at the close of business on 17th January, 2012 will be treated in time for the purpose of above entitlement to the transferees.

Profit and Loss Account for the Year Ended September 30, 2011

 

	2011	2010
	Rupees
Sales – Net	3,087,852,644	1,853,587,411
Cost of goods sold	(2,900,399,028)	(1,727,680,251)
	————-	————-
Gross Profit	187,453,616	125,907,160
Operating expenses:
Administrative and general expenses	30,425,613	30,601,983
Other operating charges	625,000	1,550,960
	————-	————-
	31,050,613	32,152,943
	————-	————-
	156,403,003	93,754,217
Other operating income	43,851,733	4,103,738
	————-	————-
Profit from operation	200,254,737	97,857,955
Finance cost	167,931,206	125,788,403
	————-	————-
Profit/ (loss) before taxation	32,323,531	(27,930,448)
Taxation	12,382,947	73,483,706
	————-	————-
Profit after taxation	19,940,584	45,553,258
	————-	————-
Earnings per share – basic	0.62	1.41

 

The annexed notes form an integral part of these financial statements.

For more information, contact:
Haseeb Waqas Sugar Mills Limited
6-F, Model Town, Lahore Pakistan.
Phones: 042- 35917321 -23
Fax: 92-42- 35917317
E-mail: hwgc@hwgc.com.pk