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Monday, September 21st, 2020

JDW Sugar Mills Limited’s Financial Results for the Half Year Ended March 31, 2011

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Karachi: We have to inform you that the Board of Directors of JDW Sugar Mills Limited (JDWS) in their meeting held on May 27, 2011 at 11:00 a.m. at 17-Abid Majeed Road, Cantt Lahore, have approved the following.

The financial results of the Company for the Half Year ended March 31, 2011 are as follows:

  Six months ended Quarter ended
31 March 31 March 31 March 31 March
2011 2010 2011 2010
Rupees Rupees Rupees Rupees
  Restated   Restated
Gross sales 15,302,446,909 10,922,100,024 9,376,064,865 5,601,506,791
Less Sales tax and special Excise duty 894,571,833 543,146,294 641,656,733 252,663,899
  —————- ————— ————— —————
Net sals 14,407,875,076 10,378,953,730 8,734,408,132 5,348,842 892
Cost of sales (11,243,598,584) (7,960,530,584) (6,935,763,624) (4,461,038,016)
  —————- ————— ————— —————
Gross profit 3,164,276,492 2,418,423,146 1,798,644,508 887,804,876
Administrative expenses (193,472,788) (165,090,963) (113,152.758) (91,137,241)
Distribution and marketing expenses (9,155,291) (8,215,464) (5,732,636) (4,018,644)
Other operating expenses (263,352,542) (156,235,143) (144,414,833) (56,406,157)
Other operating income 33,271,115 33,859,352 20,775,404 21,521,978
  (432,709,506) (295,682,218) (242,524,823) (130,040,064)
—————- ————— ————— —————
Operating profit 2,731,566,986 2,122,740,928 1,556,119,685 757,764,812
Finance cost (455,029,257) (555,946,575) (296,333,576) (333,870,597)
  —————- ————— ————— —————
Profit before taxation 2,276,537,729 1,566,794,353 1,259,786,109 423,894,215
Taxation (920,302,584) (775,672,318) (595,056,461) (221,461,293)
  —————- ————— ————— —————
Profit after taxation 1,356,235,145 791,122,035 664,729,648 202,432,922
  —————- ————— ————— —————
Basic earnings per share 25.l7 16.33 12.34 4.18
  —————- ————— ————— —————

Announcement of Right Shares:

The Board of Directors has decided to issue ten percent (10%) right shares at price of Rs. 70 per share (inclusive per share premium of Rs. 60) in proportion of 1 (one) share for every 10 (ten) shares.

The share transfer books of the Company will be closed from June 23, 2011 to June 30, 2011 (both days inclusive) for the purpose to determine the said right shares entitlement. Transfers received at the office of Shares’ Registrar at Wing Arcade, 1-K Commercial, Model Town, Lahore, at the close of business on June 22, 2011 will be treated in time for the purpose of above entitlement to the transferees.

 

It is further informed that no Cash Dividend or Bonus Shares have been recomme6nded by the board.

For mor information, contact:

Muhammad Rafique

Company Secretary

JDW Sugar Mills Limited

17-Abid Majeed Road,

Lahore Cantt Lahore,

PABX #: +9242 36664891-92

Fax: +9242 36654490

Email jdwho@jdw-group.com

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