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Karachi, July 25, 2013 (PPI-OT): We are pleased to inform you that the Board of Directors of Shakarganj Mills Limited (SGML) in their meeting held on 25 July 2013 at Faisalabad have considered and approved the financial results of Shakarganj Mills Limited for the 3rd Quarter and Nine Months period ended 30 June 2013 and the Board of Directors recommended the following:
(i) Cash Dividend
Nil
(i) Bonus Shares
Nil
(iii) Right Shares
Nil
(iv) Any Other Entitlement/ Corporate Action
Nil
(v) Any Other Price-Sensitive Information
Nil
The financial results of the Company are attached herewith.
Condensed Interim Profit and Loss Account (Un-audited) for the Nine Months Period Ended 30 June 2013
Quarter ended Nine months ended
30 June 30 June 30 June 30 June
2013 2012 2013 2012
Note (Rupees in thousands)
(Represented) (Represented)
Sales 12.1 4,714,261 3,658,845 11,274,112 10,972,552
Cost of sales 12.2 (4,458,826) (3,511,224) (10,145,734) (9,596,373)
--------- --------- ---------- ----------
Gross profit 255,435 147,621 1,128,378 1,376,179
Administrative expenses (70,030) (78,002) (218,968) (238,839)
Distribution and selling costs (97,442) (64,638) (275,389) (231,073)
Other operating expenses (15,521) (17,036) (61,500) (74,414)
Other operating income 42,772 21,224 149,758 84,342
--------- --------- ---------- ----------
Profit from operations 115,214 8,269 722,289 916,193
Finance cost (111,986) (214,495) (345,108) (616,486)
Share of income from associates 31,966 72,830 155,707 122,793
--------- --------- ---------- ----------
Profit before taxation 35,194 (133,396) 532,788 422,502
Taxation
- Company (34,300) (36,598) (82,519) (109,415)
- Associates (5,135) (4,192) (21,889) (16,356)
--------- --------- ---------- ----------
(39,435) (40,790) (104,402) (125,771)
--------- --------- ---------- ----------
Profit after taxation (4,241) (174,186) 428,386 296,731
--------- --------- ---------- ----------
Earnings per share
Basic earnings per share 13 (0.06) (2.51) 6.16 4.27
Diluted earnings per share 13 (0.06) (2.51) 5.69 4.23
The annexed notes 1 to 17 form an integral part of this condensed interim financial information.
For more information, contact:
Chief Executive
Shakarganj Mills Limited
12th floor, Sidco Avenue Center,
264-R.A. Lines,
Karachi, Pakistan
Tel: (021) 3568 8149
Fax: (021) 3568 0476
URL: http://www.shakarganj.com.pk