Karachi: We have to inform you that the Board of Directors of the Company in their meeting held at Lahore on 28 July, 2011 recommended the following:
| (1) Cash Dividend | Nil. |
| (2) Bonus Issue | Nil. |
| (3) Right Shares | Nil |
| (4) Any Other Entitlement/ Corporate Action | Nil. |
| (5) Any Other Price Sensitive Information | Nil. |
The financial results of the Company are attached.
Condensed Interim Profit and Loss Account (Un-Audited) for the Quarter and Nine Months Ended 30 June, 2011
|
For the 3rd Quarter |
Nine months ended |
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|
Mar – Jun |
Mar – Jun |
Oct- Jun |
Oct – Jun |
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|
2011 |
2010 |
2011 |
2010 |
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| Note |
(Rupees in thousand) |
||||
| Sales – Net | 623,015 | 334,372 | 2,259,834 | 1,231,101 | |
| Cost of Sales | 544,963 | 329,781 | 1,936,445 | 1,211,271 | |
| ——- | ——- | ———- | ———- | ||
| Gross Profit/ (Loss) | 78,052 | 4,591 | 323,389 | 19,830 | |
| Distribution and Marketing Cost | 17,347 | 5,439 | 42,528 | 17,949 | |
| Administrative Expenses | 19,223 | 16,125 | 55,235 | 52,125 | |
| Other Operating Expenses | (759) | 246 | 7,550 | 1,266 | |
| Other Operating Income | (2,402) | (2,195) | (6,833) | (3,433) | |
| ——- | ——- | ———- | ———- | ||
| 33,409 | 19,615 | 98,480 | 87,907 | ||
| ——- | ——- | ———- | ———- | ||
| Profit/ (loss) from Operations | 44,643 | (15,024) | 224,909 | (48,077) | |
| Finance Cost | 64,309 | 34,566 | 140,558 | 83,410 | |
| ——- | ——- | ———- | ———- | ||
| Profit/ (loss) before share of Profit from an Associated Company and Taxation | (19,666) | (49,590) | 84,351 | (131,487) | |
| Share of Profit From An | |||||
| Associated Company – Net of taxation | 432 | – | 2,644 | 4,802 | |
| ——- | ——- | ———- | ———- | ||
| PROFIT ((LOSS) BEFORE TAXATION | (19,234) | (49,590) | 86,995 | (126,685) | |
| Taxation | 10 | 6,193 | 7,292 | 22,598 | 12,335 |
| ——- | ——- | ———- | ———- | ||
| Profit / (Loss) After Taxation | (25,427) | (56,882) | 64,397 | (139,020) | |
| Other Comprehensive Income | – | – | – | – | |
| ——- | ——- | ———- | ———- | ||
| Total Comprehensive Income/ (Loss) for the Period | (25,427) | (56,882) | 64,397 | (139,020) | |
| ——- | ——- | ———- | ———- | ||
| Rupees | |||||
| Earnings / (Loss) Per Share | (1.54) | (3.44) | 3.90 | (8.42) | |
The annexed notes form an integral part of this condensed interim financial information.
The Chief Executive is out of Pakistan and in his absence these financial statements have been signed by two Directors as required under section 241(2) of the Companies Ordinance, 1984.
For more information, contact:
Syed Anwar Ali
Company Secretary
Noon Sugar Mills Limited
66-Garden Block, New Garden Town, Lahore
Tel: +9242 5831462-63
Fax: +9242 5831462
Website: www.noonsugar.com
Email: shares@noonsugar.com