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Karachi: We have to inform you that Board of Directors of our Company in their meeting held today, Friday the 27th May 2011 at 11.00 A.M. have not recommended any
cash dividend or any other benefit.
The financial results of the Company are as follows:
| Half year ended | Second Quarter ended | |||
| March 31 | March 31 | |||
| 2011 | 2010 | 2011 | 2010 | |
| (Rupees in thousands) | (Rupees in thousands) | |||
| Sales – net | 2,359,16 | 1,596,103 | 1,816,905 | 1,249,483 |
| Cost of sales | 1,929,140 | 1,561,679 | 1,484,699 | 1,264,295 |
| ——— | ——— | ——— | ——— | |
| Gross Profit (loss) | 430,029 | 34,424 | 332,206 | (14,812) |
| Distribution cost | 4,575 | 3,868 | 3,197 | 2,836 |
| Administrative expenses | 74,269 | 63,408 | 47,729 | 39,926 |
| Other operating expenses | 27,308 | 4,806 | 21,520 | 1,759 |
| Other operating income | (10,316) | (19,517) | (4,313) | (8,746) |
| ——— | ——— | ——— | ——— | |
| 95,836 | 52,565 | 68,133 | 35,775 | |
| Operating profit / (loss) | 334,193 | (18,141) | 264,073 | (50,587) |
| Finance cost | 32,188 | 26,259 | 30,991 | 25,749 |
| ——— | ——— | ——— | ——— | |
| 302,006 | (44,400) | 233,082 | (76,336) | |
| Share of profit in associates – net | 12,799 | 4,523 | 12,799 | 4,523 |
| ——— | ——— | ——— | ——— | |
| Profit/ (loss) before taxation | 314,804 | (39,877) | 245,881 | (71,813) |
| Taxation | 104,341 | 6,430 | 80,216 | (1,102) |
| ——— | ——— | ——— | ——— | |
| Net profit /(loss) for the period | 210,463 | (46,307) | 165,665 | (70,711) |
| ——— | ——— | ——— | ——— | |
| Earnings per ordinary share – | ||||
| Basic arid Diluted (Rupees) | 17.52 | (3.86) | 13.79 | (5.89) |
| ——— | ——— | ——— | ——— | |
For more information, contact:
Jamil Ahmad Butt
Company Secretary
Shahtaj Sugar Mills Limited
19, Dockyard Road, West Wharf,
P.O. Box No. 4766,
Karachi – 74000,
Pakistan.
Tel: +9221 32313934-38
Fax: +9221 32310623
Email: jamilbutt@shahtaj.com