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Friday, September 24th, 2021

Sindh Abadgar’s Sugar Mills Limited’s Financial Results for the Half Year Ended 31st March 2011

Be First!

Karachi: We are enclosing herewith a letter under sealed envelope covering Financial Results for half year ended 31st March, 2011 as approved by the board of Directors at its meeting held on 20th May, 2011 at 4:00 pm.

We have to inform you that the Board of Directors of our Company in their meeting held on Friday, the 20th May 2011 at 4:00 p.m. at its registered office 209, 2nd Floor. Progressive Plaza Beaumonl Road Karachi, recommended, the following:

(i) Cash Dividend

An Interim Cash Dividend for the period ended 31st March, 2011 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-%.

(ii) Bonus Shares

It has been recommended by the Board of Directors to issue Interim Bonus Shares in proportion of -Nil- share(s) for every –Nil- share(s) held i.e. -Nil-% This is in addition to the Interim 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 pries-Sensitive Information

The financial results of the Company are as follows:

  For The Half Year Ended For The Quarter Ended
  March 31, 2011 March 31, 2010 March 31, 2011 March 31, 2010
  Rupees
Sales – net 443,073,080 81,632,688 376,116,382 57,740,427
Cost of goods sold (357,622,043) (79,782,789) (283,139,814) (58,176,594)
  ———– ———– ———– ———–
Gross Profit (Loss) 85,451,037 1,849,899 92,976,568 (436,167)
  ———– ———– ———– ———–
Operating Expenses        
Administrative expenses (33,711,156) (30,269,568) (21,121,341) (17,790,693)
Selling and distribution cost (1,690,313) (1,226,360) (1,237,192) (952,404)
  ———– ———– ———– ———–
  (35,401,469) (31,495,928) (22,358,533) (18,743,097)
  ———– ———– ———– ———–
Operating Profit/ (Loss) 50,049,568 (29,646,029) 70,618,035 (19,179,264)
Finance cost (11,184,268) (19,973,878) (7,182,451) (14,643,960)
Other income 4,974,646 1,452,914 3,353,866 771,823
  ———– ———– ———– ———–
  (6,209,622) (18,520,964) (3,828,585) (13,872,137)
Profit / (Loss) before taxation 43,839,946 (48,166,993) 66,789,450 (33,051,401)
Taxation – current (22,625,742) (895,663) (22,625,742)
  ———– ———– ———– ———–
Profit / (Loss) after Taxation 21,214,204 (49,062,656) 44,163,708 (33,051,401)
  ———– ———– ———– ———–
Profit/(Loss) per share – basic and diluted 2.03 (4.71) 4.24 (3.17)
  ———– ———– ———– ———–

For more information, contact:

Deoo Mal Essarani

Chairman/Chief Executive

Sindh Abadgar’s Sugar Mills Limited

209, 2nd floor, Progressive Plaza,

Beaumonl Road, Karachi-Pakistan.

Tel: +9221 35638212-13

Fax: +9221 35638219

E-mail sasm@unitedgroup.org.pk

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