Adam Sugar Mills Limited’s re. financial results for the third quarter ended June 30, 2011

Adam Sugar Mills Limited’s re. financial results for the third quarter ended June 30, 2011

Karachi: We have to inform you that Board of Directors of our Company in their meeting held on Monday, July 25, 2011 at 12:00 p.m. at the registered office of the company recommended the following.

 

1) Cash Dividend Nil
2) Bonus Shares Nil
3) Right Shares Nil

 

The financial results of the Company as follows:

For the Third Quarter Ended

Quarter Ended

Oct 2010

to

June 2011

Oct 2009

to

June 2010

Apr 2011

to

June 2011

Apr 2010

to

June 2010

Sales-net 2,320,565,243 1,495,344,399 121,452,357 468,099,788
Cost of sales (2,103,935,954) (1,336,409,728) (114,021,889) (429,674,387)
————- ————- ———– ———–
Gross Profit 216,629,289 158,934,671 7,430,468 38,425,399
Administrative Expense (24,439,528) (24,204,963) (8,419,966) (9,463,738)
Selling expenses (1,757,685) (975,336) (81,294) (104,484)
————- ————- ———– ———–
(26,197,213) (25,180,299) (6,501,260) (9,568,222)
Operating profit 190,423,076 133,754,372 929,208 28,857,177
Other income 4,538,204  7,534,516 1,065,710 57,168
————- ———— ———– ———–
194,970,280 141,288,888 1,994,918 28,914,345
Financial Charges (79,446,115) (39,371,326) (50,462,048) (20,651,241)
Worker’s profit participation fund (5,776,208) (5,095,878) 2,423,357 (413,155)
Worker’s welfare fund (2,151,921) (1,936,434) 1,147,676 (156,999)
————- ————- ———– ———–
(87,374,244) (46,403,638) (46,891,015) (21,221,395)
Profit/(loss) before taxation 107,596,036 94,885,250 (44,898,097) 7,692,950
Taxation
Current (39,114,788) (33,665,792) 17,473,315 (3,784,709)
Deferred 2,447,443 (3,158,293)
————- ————- ———– ———–
(36,667,325) (36,824,085) 17,473,315 (3,784,709)
Profit/(loss) before taxation 70,926,711 58,061,165 (27,422,782) 3,908,241
————- ————- ———– ———–
Earnings per share-basic and diluted 12.31 10.07 (4.76) 0.68

 

For more information, contact:
Adam Sugar Mills Limited
Haji Adam Chambers,
P.O. Box 4274,
Altaf Hussain Road,
New Challi,
Karachi-Pakistan.
Tel: 32417812-16
Fax: 32427560

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