Haseeb Waqas Sugar Mills Limited’s financial results for the annual accounts ended on September 30, 2012

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Karachi, January 01, 2013 (PPI-OT): This is to inform you that the Board of Directors’ Meeting of the Company held at 10:00 a.m. on Tuesday, January 01, 2013, has considered and approved the annual accounts of the Company for the year ended on September 30, 2012.

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, 2013 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, 2013 to January 25, 2013 (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, 2013 will be treated in time for the purpose of above entitlement to the transferees.

Annexure A

Profit and Loss Account for the Year Ended September 30, 2012

		2012	2011
	Note	Rupees
Sales-Net	22	1,917,276,929	3,087,852,644
Cost of goods sold	23	1,848,427,925	2,900,399,028
		————-	————-
Gross Profit		68,849,004	187,453,616
Operating expenses:
Administrative and general expenses	24	36,495,107	30,425,613
– Other operating charges	25	625,000	2,241,177
		————-	————-
		37,120,107	32,666,789
		————-	————-
		31,728,897	154,786,827
Other operating income	26	17,063,235	43,851,733
		————-	————-
Profit from operation		48,792,132	198,638,560
Finance cost	27	254,565,826	167,931,206
		————-	————-
(Loss)/ Profit before taxation		(205,773,694)	30,707,355
Taxation	28	4,707,212	(12,382,947)
		————-	————-
(Loss)/ Profit after taxation		(201,066,482)	18,324,407
		————-	————-
Earning per share-basic	29	(6.21)	0.57

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