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