Sindh Abadgar`s Sugar Mills Limited’s financial results for the 1st quarter ended 31st December, 2012

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Karachi, January 28, 2013 (PPI-OT): We have to inform you that the Board of Directors of our company in their meeting held on Saturday 26th January, 2013 at 12:00 noon at its registered office 209, 2nd Floor, Progressive Plaza, Beaumont Road, Karachi, recommended the following:

(I) Cash Dividend

A final Cash Dividend for the 1st quarter ended 31st December, 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- %:

AND/OR

(II) Bonus Shares

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

(III) Right Shares

The Board has recommended issuing Nil % Right Shares at par/at a discount premium of Rs. Nil per share in proportion of Nil share (s) for every Nil share (s). The entitlement of right shares being declared simultaneously will be/ will not be applicable on Bonus Shares as declared above.

AND/OR

(IV) Any Other Entitlement/ Corporate Action

AND/OR

(V) Any Other Price-Sensitive Information

The financial results of the Company are as follows:

	December	December
	2012	2011
	Rupees	Rupees
Net Sales	529,889,113	305,462,509
Cost of sales	(464,656,231)	(272,208,746)
	———–	———–
Gross profit	65,232,882	33,253,763
Administrative expenses	(14,338,459)	(13,419,528)
Distribution cost	(17,165,341)	(217,396)
	———–	———–
	(31,503,800)	(13,636,924)
	———–	———–
	33,729,082	19,616,839
Operating (loss)/ profit	(15,635,731)	(10,895,756)
	———–	———–
Financial charges	18,093,351	8,721,083
Other Income	363,256	1,248,852
Profit before taxation	18,456,007	9,909,936
	———–	———–
Provision for taxation – Current
Profit after taxation	18,456,607	9,969,935
Accumulated profit/ (loss) brought forward	6,823,201	(6,887,269)
	———–	———–
	25,279,888	3,082,666
Appropriation
Dividend paid for the year 2010
Surplus on revaluation of property plant and equipment	9,413,877	9,422,805
	———–	———–
Accumulated profit carried forward	34,693,765	12,505,471
	———–	———–
Earnings per share-basic diluted	1.77	0.96

For more information, contact:
Deoo Mal Essarani
Chairman / Chief Executive
Sindh Abadgar`s Sugar Mills Limited
209, 2nd floor, progressive Plaza,
Beaumont Road, Karachi
Tel: 35638212-13
Fax: (92-21) 35638219
E-mail: sasm@unitedgoup.org.pk