PPI Original Text (PPI-OT) – Crescent Cotton Mills Limited’s financial results for the quarter st six months ended March 31, 2012

Karachi, May 31, 2012 (PPI-OT): We have to inform you that the Board of Directors of Crescent Sugar Mills and Distillery Limited in their Meeting held today at 19:30 a.m. at Faisalabad have recommended the following:

(i)  Cash Dividend

An Interim Cash Dividend for the quarter ended March 31, 2012 at Rs. Nil per share i.e. Nil %. This is in addition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil %.

(ii) Bonus Shares

It has been recommended by the Board of Directors to issue interim Bonus shares in proportion of Nil shares(s) for every Nil share(s) held i.e. Nil %. This is in addition to the Interim Bonus Shares already Issued @ Nil %.

(iii) Right Shares

The Board has recommended to Issue Nil %, shares at par/at a discount/ premium of Rs. Nil per share in proportion of Nil Share(s) being declared simultaneously will be twill not be applicable on Bonus Shares as declared above.

(Rupees in ‘000’)

Half Year Ended

Quarter Ended

March 31

March 31

March 31

March 31

2012

2011

2012

2011

Continuing Operations:
Sales

1,962,764

2,378,591

1,069,882

1,284,750

Cost of Sales

(1,791,947)

(2,161,354)

(959,389)

1,180,555

———–

————

———–

———–

Gross Profit

170,817

217,237

110,493

104,195

Distribution Cost

(48,238)

(50,309)

(27,693)

(25,660)

Administrative Expenses

(32,733)

(28,386)

(17,613)

(15,974)

Other Operating Expenses

(3,461)

(6,672)

(3,461)

(3,584)

———–

————

———–

———–

(84,432)

(85,367)

(48,767)

(45,218)

———–

————

———–

———–

86,385

131,870

61,726

58,977

Other Operating Income

515

23,013

308

247

———–

————

———–

———–

Profit From Operations

86,900

154,883

62,034

59,224

Finance Cost

(35,697)

(34,903)

(18,475)

19,802

———–

————

———–

———–

Profit Before Taxation

51,203

119,980

43,559

39,422

Provision For Taxation

(19,539)

(24,199)

(10,611)

(18,069)

———–

————

———–

———–

Profit After Taxation From
Continuing Operations

31,664

95,781

32,948

21,353

Discontinued Operations:
(Loss)/Profit After Taxation From
Discontinued Operations

(4,520)

(21,676)

4,946

22,466

———–

————

———–

———–

Profit After Taxation

27,144

74,105

37,894

43,819

Earning Per Share Basic
and Diluted (Rupees)
Continuing Operations

1.48

4.18

1.54

1.00

———–

————

———–

———–

Discontinued Operations

(0.21)

(1.01)

0.23

(1.05)

For more information, Contact:
Samiullah
Company Secretary
Crescent Cotton Mills Limited
New Lahore Road,
Post Box No. 11, Faisalabad – Pakistan
Tele: 041-8752111-14
Fax: 041-8750366
E-mail: info@cresaentsugr.com