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Karachi: We have to inform you that Board of Directors of our Company in their Meeting held at 10.30 a.m. on Thursday, July 21, 2011, recommended the following.
| (i) | Interim Cash Dividend | Nil |
| (ii) | Interim Bonus Shares | Nil |
| (iii) | Right Shares | Nil |
The Quarter Results of the Company are as follows.
|
Quarter Ended |
Nine Month Ended |
|||
| June 30, 2011 (Rs.) | June 30, 2011 (Rs. | June 30, 2011 (Rs.) | June 30, 2011 (Rs.) | |
| Sales – net | 187,837,009 | 169,560,917 | 1,295,887,818 | 1,203,251,954 |
| Less: Cost of sales | (193,444,851) | (161,028,912) | (1,181,923,357) | (971,558,738) |
| ———– | ———– | ————- | ————- | |
| Gross Profit | (5,607,842) | 8,532,005 | 113,964,461 | 231,693,216 |
| Operating Expenses: | ||||
| Administrative Expenses | 11,539,896 | 9,277,846 | 42,635,282 | 33,236,721 |
| Distribution costs | 67,733 | 70,609 | 1,189,434 | 922,097 |
| ———– | ———– | ————- | ————- | |
| (11,607,629) | (9,348,455) | (43,824,716) | (34,158,818) | |
| Operating Profit / (loss) | (17,215,471) | (816,450) | 70,139,745 | 197,534,398 |
| Other Charges | ||||
| Finance costs | (983,274) | (1,167,756) | (5,684,060) | (9,016,393) |
| Other (charges) / Income | 1,255,714 | 455,057 | (4,447,442) | (12,673,005) |
| ———– | ———– | ————- | ————- | |
| 272,440 | (712,699) | (10,131,502) | (21,689,398) | |
| Net profit /(loss) before taxation | (16,943,031) | (1,529,149) | 60,008,243 | 175,845,000 |
| Taxation- Current | (1,878,370) | (847,805) | (12,958,878) | (6,016,260) |
| ———– | ———– | ————- | ————- | |
| Net profit/ (loss) after taxation | (18,821,401) | (2,376,954) | 47,049,365 | 169,828,740 |
| ———– | ———– | ————- | ————- | |
| Earnings per share – basic and diluted | (1.33) | (0.17) | 3.34 | 12.04 |
For more information, contact:
Tariq Mahmood
Company Secretary
Mirza Sugar Mills Limited
10th Floor, Block ‘B’ Building No. 1,
Lakson Square,
Sarwar Shaheed Road,
Karachi
PABX: 5680151
Fax: (92-21) 5680183