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

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Karachi: We have to inform you that Board of Directors of our Company in their Meeting held at 10:30 a.m. on Monday, May 23, 2011 recommended the following:

(i) Interim Cash Dividend        Nil

(ii) Interim Bonus Share          Nil

(iii) Right Share                           Nil

The Half Yearly Results of the Company are as follows:

 Quarter EndedHalf Yearly Ended
March 31, 2011March 31, 2010March 31, 2011March 31, 2010
Rs.Rs.Rs.Rs.
Sales – net1,000,396,106897,470,4571,108,050,8091,033,691,037
Less: Cost of Sales(885,048,216)(718,659,483)(988,478,506)(810,529,826)
 ————-————-————-————-
Gross Profit115,347,890178,810,974119,572,303223,161,211
Operating Expenses:    
Administrative Expenses17,061,30013,237,91531,095,38623,958,875
Distribution Costs1,055,103705,3381,121,701851,488
 ————-————-————-————-
(18,116,403)(13,943,253)(32,217,087)(24,810,363)
————-————-————-————-
Operating Profit97,231,487164,867,72187,355,216198,350,848
Finance cost(3,853,277)(6,565,959)(4,700,786)(7,848,637)
Other (charges) / Income(5,703,156)(13,128,062)(5,703,156)(13,128,062)
 ————-————-————-————-
(9,558,433)(19,694,021)(10,403,942)(20,976,699)
————-————-————-————-
Net profit before taxation87,675,054145,173,70076,951,274177,374,149
Taxation – current(10,003,961)(4,487,352)(11,080,508)(5,168,455)
 ————-————-————-————-
Net profit after taxation77,671,093140,686,34865,870,766172,205,694
 ————-————-————-————-
Earning per share-basic and diluted5.519.984.6712.21
 ————-————-————-————-

For more information, contact:

Tariq Mahmood

Company Secretary

Mirza Sugar Mills Limited

10th floor, Block ‘B’ Building No. 1, Lakson Square,

Sarwar Shaheed Road,

Karachi.

Fax: +92297 861253

Tel: +92297 864107

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