Sindh Abadgar’s Sugar Mills Limited’s financial results for the year ended 30th September, 2012 : AsiaNet-Pakistan

Sindh Abadgar’s Sugar Mills Limited’s financial results for the year ended 30th September, 2012

December 31, 2012 | Financial Results | Share:

Karachi, December 31, 2012 (PPI-OT): We have to inform you that the Board of Directors of our company in their meeting held on Friday 28th December, 2012 at 4:00 p.m. at its registered office 209, 2nd Floor, Progressive Plaza, Beaumont Road, Karachi, recommended the following:

(i) Cash Dividend

A final Cash Dividend for the year ended 30th September, 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 in addition to the Bonus Shares already issued @ Nil %.

And/ Or

(iii) Right Shares

The Board has recommended to issue 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:

 

(Re-stated)

 

2012

2011

 

Rupees

Rupees

Net Sales

1,501,814,968

1,469,470,610

Cost of sales

(1,482,725,708)

(1,306,107,686)

 

————-

————-

Gross profit

19,089,260

163,363,124

Administrative expenses

62,398,170

60,258,479

Distribution cost

12,009,270

2,202,081

 

————-

————-

 

(74,407,440)

(62,460,560)

 

————-

————-

Operating (loss)/ profit

(55,318,180)

100,902,664

Financial charges

(8,124,520)

(33,129,775)

 

————-

————-

 

(63,442,700)

67,772,789

Other Income

32,401,547

17,007,476

Provision of WPPF

(4,243,929)

 

————-

————-

(Loss)/ Profit before taxation

(31,041,153)

80,536,337

Provision for taxation-Current

(9,764,370)

(17,374,090)

 

————-

————-

(Loss)/ Profit after taxation

(40,805,523)

63,162,247

Accumulated profit/ (loss) brought forward

4,618,975

(96,043,050)

 

————-

————-

 

(36,186,548)

(32,880,803)

Appropriation

Dividend paid for the year 2010

(10,425,000)

Surplus on revaluation or property, plant and equipment

43,009,829

47,924,778

 

————-

————-

Accumulated profit/ (loss) carried forward

6,823,281

4,618,975

 

————-

————-

(Loss)/ earning per share-basic diluted

(3.91)

6.06

The Annual General Meeting of the company will be held on Wednesday, 30th January, 2013 at 4.00 pm at the Haji Abdullah Haroon Muslim Gymkhana. Aiwan-e-Sadar Road, Karachi-75600.

Accordingly, the share transfer books of the company will remain closed from January 14, 2013 to January 30, 2013 (both days inclusive). Transfers received by M/s Noble Computer Services (Pvt) Limited, 1st Floor, House of Habib Building, (Siddiqsons Tower) 3-Jinnah C.H. Society Main Shahra-e-Faisal Karachi at the close of business on 11th January, 2012 will be treated in time.

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

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Category: Financial Results