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Sunday, September 27th, 2020

Crescent Sugar Mills and Distillery Limited’s financial results for the quarter and nine months ended June 30, 2011

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Karachi: We have to inform you that the Board of Directors of Crescent Sugar Mills and Distillery Limited (CSMD) in their Meeting held today at 10:30 a.m. at Faisalabad have recommended the following:

(i) Cash Dividend

An Interim Cash Dividend for the quarter ended June 30, 2011 at Rs. Nil per share Le Nil %. This is in addition to interim Dividend(s) already paid at Rs. Nil per share i.e Nil %

(ii) Bonus Shares

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

(iii) Right Shares

The Board has recommended to issue Nil % shares at par/at a discount premium of Rs. Nil per share in proportion of Nil Share(s) being declared simultaneously will be /will not be applicable on Bonus shares as declared above.

The financial results of the Company are as follows:-

(Rupees in thousand)

Nine Months Ended

QUARTER ENDED

30 June

30 June

30 June

30 June

2011

2010

2011

2010

CONTINUING OPERATIONS:
SALES  3,546,168 1,844,847 1,167,577 640,584
COST OF SALES (3,264,715) (1,604,509) (1,103,361) (568,293)
——— ——— ——— ———
GROSS PROFIT 281,453 240,338 64,216 72,291
 ——— ——— ——— ———
DISTRIBUTION COST (79,422) (28,507) (29,113) (5,397)
ADMINISTRATIVE EXPENSES (43,019) (31,554) (14,633) (10,953)
OTHER OPERATING EXPENSES (5,569) 1,103 901
——— ——— ——— ———
(128,010) (60,061) (42,643) (15,449)
——– ——— ——– ———
153,443 180,277 21,573 56,842
OTHER OPERATING INCOME 23,648 12,463 635 12,044
——— ——— ——— ———
PROFIT FROM OPERATIONS 177,091 192,740 22,208 68,886
FINANCE COST (47,898) (38,120) (12,995) (9,122)
——— ——— ——— ———
PROFIT BEFORE TAXATION 129,193 154,620 9,213 59,764
PROVISION FOR TAXATION (35,462) (9,224) (11,263) (1,491)
PROFIT/(LOSS) AFTER TAXATION
FROM
——— ——— ——— ———
CONTINUING OPERATIONS 93,731 145,396 (2,050) 58,273
——— ——— ——— ———
DISCONTINUED OPERATIONS (31,562) (136,781) (9,886) (58,676)
——— ——— ——— ———
PROFIT/(LOSS) AFTER TAXATION 62,169 8,615 (11,936) (403)
——— ——— ——— ———
AND DILUTED (RUPEES):
– CONTINUING OPERATIONS 4.38 6.80 (0.10) 2.73
——— ——— ——— ———
– DISCONTINUED OPERATIONS (1.48) (6.40) (0.46) (2.74)

For more information, contact:
Sami Ullah Ch.
Company Secretary
Crescent Sugar Mills and Distillery Limited
New Lahore Road,
Post Box No 11,
Faisalabad – Pakistan
Tel: +9241 8752111-14
Fax: +9241 8750366
E-mail:info@crescentsugar.com

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