Mirza Sugar Mills Limited Financial’s Results for the Half Year Ended March 31, 2011

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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 Monday, May 23, 2011 recommended the following:

(i) Interim Cash Dividend        Nil

(ii) Interim Bonus Share          Nil

(iii) Right Share                           Nil

The Half Yearly Results of the Company are as follows:

	Quarter Ended		Half Yearly Ended
	March 31, 2011	March 31, 2010	March 31, 2011	March 31, 2010
	Rs.	Rs.	Rs.	Rs.
Sales – net	1,000,396,106	897,470,457	1,108,050,809	1,033,691,037
Less: Cost of Sales	(885,048,216)	(718,659,483)	(988,478,506)	(810,529,826)
	————-	————-	————-	————-
Gross Profit	115,347,890	178,810,974	119,572,303	223,161,211
Operating Expenses:
Administrative Expenses	17,061,300	13,237,915	31,095,386	23,958,875
Distribution Costs	1,055,103	705,338	1,121,701	851,488
	————-	————-	————-	————-
	(18,116,403)	(13,943,253)	(32,217,087)	(24,810,363)
	————-	————-	————-	————-
Operating Profit	97,231,487	164,867,721	87,355,216	198,350,848
Finance cost	(3,853,277)	(6,565,959)	(4,700,786)	(7,848,637)
Other (charges) / Income	(5,703,156)	(13,128,062)	(5,703,156)	(13,128,062)
	————-	————-	————-	————-
	(9,558,433)	(19,694,021)	(10,403,942)	(20,976,699)
	————-	————-	————-	————-
Net profit before taxation	87,675,054	145,173,700	76,951,274	177,374,149
Taxation – current	(10,003,961)	(4,487,352)	(11,080,508)	(5,168,455)
	————-	————-	————-	————-
Net profit after taxation	77,671,093	140,686,348	65,870,766	172,205,694
	————-	————-	————-	————-
Earning per share-basic and diluted	5.51	9.98	4.67	12.21
	————-	————-	————-	————-

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.

Fax: +92297 861253

Tel: +92297 864107