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Abdullah Shah Ghazi Sugar Mills Limited’s financial results for the period ended June 30, 2013

Be First!

Karachi, August 05, 2013 (PPI-OT): We have to inform you that the Board of Directors of our company in their meeting held on July 31, 2013 at 10:00 am, at 65-Infantry Road, Lahore recommended the following:

(i) Cash Dividend Nil
And/ Or

(ii) Bonus Shares Nil
And/ Or

(iii) Right Shares Nil
And/ Or

(iv) Any Other Entitlement/ Corporate Action Nil
And/ Or

(v) Any Other Price-Sensitive Information
Not Applicable

The financial results of Company are as follows:

                                                                 9 months                               3 months
                                                     Oct 2012 to          Oct 2011 to        Apr 2013 to       Apr 2012 to
                                                      Jun 2013             Jun 2012            Jun 2013          Jun 2012
                                                                   Rupees                                 Rupees

Sales-Net                                           1,193,235,924         684,304,217         103,586,985       383,827,095
Cost of sales                                       1,095,422,410         559,365,288          82,252,623       348,678,208
                                                    -------------         -----------         -----------       -----------
Gross profit                                           97,813,514         124,938,929          21,334,362        35,148,887
Operating Expenses
Administrative and general expenses                    14,907,553          23,195,477           3,951,848         9,594,957
Distribution expenses                                   5,209,669           1,747,692             554,887           262,825
                                                    -------------         -----------         -----------       -----------
                                                       20,117,222          24,943,169           4,506,735         9,857,782
                                                    -------------         -----------         -----------       -----------
Operating profit                                       77,696,292          99,995,760          16,827,627        25,291,105
Finance cost                                           76,154,975         100,630,776          24,013,706        32,729,087
Workers' profit participation fund                         77,252             459,059            (359,265)          118,801
Workers’ welfare fund                                      30,901             183,624            (134,976)           54,326
                                                    -------------         -----------         -----------       -----------
                                                       76,263,127         101,273,459          23,519,464        32,902,214
                                                    -------------         -----------         -----------       -----------
Profit/ (loss) for the period                           1,433,165          (1,277,699)         (6,691,837)       (7,611,109)
Other income                                                3,713           9,816,205                 766         2,814,016
                                                    -------------         -----------         -----------       -----------
Profit/ (loss) before taxation                          1,436,878           8,538,506          (6,691,071)        2,202,907
Provision for taxation
- Current                                              (8,122,477)         (6,843,042)           (729,016)       (3,838,271)
- Deferred                                             14,465,880           1,346,294          11,084,613           448,756
                                                    -------------         -----------         -----------       -----------
                                                        6,343,403          (5,496,748)         10,355,597        (3,389,515)
                                                    -------------         -----------         -----------       -----------
Profit/ (loss) after taxation                           7,780,281           3,041,758           3,664,526        (1,186,608)
                                                    -------------         -----------         -----------       -----------
Earnings/ (Loss) per share-Basic and diluted                 0.10                0.04                0.05             (0.01)
                                                    -------------         -----------         -----------       -----------

We will be sending you number of prescribe copies printed Accounts of the company for distribution amongst the members of the Exchange.

For more information, contact:
Company Secretary
Abdullah Shah Ghazi Sugar Mills Limited
(Formerly Al-Asif Sugar Mills Limited)
Head Office: 65- Infantry Road Lahore.
Ph #: 92-42-36834016-22
Fax: +92-42-36811253
Email: info@maccagroup.com

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