Noon Sugar Mills Limited Reports Half-Year Financial Results

Lahore, Noon Sugar Mills Limited announced its financial results for the half year ended on March 31, 2024. The announcement was made following a board meeting held at 66-67-A, Garden Block, New Garden Town, Lahore on May 29, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the board did not recommend any cash dividends, bonus shares, right shares, or any other entitlements or corporate actions. The company’s condensed interim statement of profit or loss for the quarter and six months period ended March 31, 2024, shows a total sales net of PKR 5,072,179,000 for the six months period, compared to PKR 3,580,509,000 for the same period in 2023. The profit before income tax for the half year was reported at PKR 332,926,000, up from PKR 133,776,000 in 2023. The earnings per share were also higher at 17.07 compared to 8.10 in the previous year.

Further details reveal a gross profit of PKR 1,079,024,000 for the half year, with operating profits at PKR 794,890,000 after accounting for distribution, marketing, and administrative expenses. Finance costs for the period were PKR 399,804,000. The profit after income tax was reported at PKR 281,897,000 for the half year.

The company has committed to sending the required number of copies of the printed accounts to shareholders.