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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