Mirza Sugar Mills Limited’s financial results for the year ended 30-09-2011

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Karachi: We have to inform you that the Board of Directors of our Company in their Meeting held on Tuesday December 20, 2011 at 10.30 a.m. at Karachi recommended the following:

(i) Cash Dividend            Nil

(ii) Bonus Shares            Nil

(iii) Right Shares           Nil

The financial results of the Company are as follows:

 

	Year Ended	Year Ended
	30-09-2011 (Rs)	30-09-2010 (Rs)
Sales – Net	1,465,477,806	1,328,623,472
Cost of sales	(1,355,198,764)	(1,107,581,793)
	————-	————-
Gross Profit	110,279,042	221,041,679
Operating Expenses
Administrative expenses	57,944,915	43,780,352
Distribution costs	1,347,106	1,009,983
	————-	————-
	(59,292,021)	(44,790,335)
	————-	————-
Operating Profit	50,987,020	176,251,344
Finance costs	(9,000,428)	(12,825,951)
Other Income	6,700,150	357,264
Other charges	(9,352,101)	(11,301,003)
	————-	————-
	(11,652,379)	(23,769,690)
	————-	————-
Profit before taxation	39,334,641	152,481,654
Taxation:
-Current – for the year	(14,721,779)	(13,266,250)
	————-	————-
– For prior years	–	–
	(14,721,779)	(13,286,250)
	————-	————-
Profit after taxation	24,612,862	139,195,404
	————-	————-
Earnings per share – basic and diluted	1.75	9.87

 

The Annual General Meeting of the Company will be held on Monday, January 30, 2012 at 02.30 p.m. at Auditorium of The Pakistan Institute of International Affairs (PIIA), Near Sidco Avenue Center, Opposite Libra Autos CNG Pump, Maulana Deen Mohd. Wafi Road, Karachi.

The Shares Transfer Books of the Company will remain dosed from 21-01-2012 to 30-01-2012 (both days Inclusive). Transfers received by our Shares Registrar M/s. Technology Trade (Pvt.) Ltd, at their office; Dagia House. 241-C, Block-2 Off: Shahrah-e-Quiadeen, Karachi, at the close of business on 20-01-2012 will be treated in time for the purpose of shares transfer to the transferees.

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