Karachi: We have to inform you that the Board of Directors of our Company in their meeting at registered office of the Company, 2nd Floor Bank House No- 1, Habib Square, MA. Jinnah Road. Karachi recommended the following:
1. Cash Dividend Nil
2. Bonus Issue Nil
3. Right Issue Nil
The Financial Results of the Company are as follows.
| Half Year Ended | Qaurter Ended | |||
| Mar 2011 | Mar 2010 | Mar 2011 | Mar 2010 | |
| Rupees | Rupees | |||
| Sales – net | 1,947,190,465 | 1,980,519,318 | 1,038,939,910 | 1,013,502,865 |
| Cost of Sales | (1,755,647,401) | (1,848,658,277) | (952,479,749) | (1,001,693,565) |
| ————– | ————– | ————– | ————– | |
| Gross profit | 191,543,064 | 131,861,041 | 86,460,161 | 11,809,300 |
| Operating expenses | ||||
| Administrative expenses | (28,345,831) | (23,541,253) | (15,094,241) | (13,179,753) |
| Distribution cost | (5,836,645) | (3,717,376) | (5,002,791) | (2,397,911) |
| Other charges | (12,100,496) | (8,280,242) | (4,709,764) | (536,428) |
| Other income | 18,252,245 | 18,657,278 | 14,956,782 | 11,850,287 |
| ————– | ————– | ————– | ————– | |
| Operating profit | 163,512,337 | 114,979,448 | 76,610,147 | 7,545,495 |
| Share in profit of associate – net | 29,367,667 | 8,510,053 | 23,554,265 | (1,929,833) |
| ————– | ————– | ————– | ————– | |
| 192,880,004 | 123,489,501 | 100,164,412 | 5,615,662 | |
| Finance cost | (21,301,805) | (21,812,854) | (20,147,626) | (18,321,607) |
| ————– | ————– | ————– | ————– | |
| Profit bafore tax | 171,578,199 | 10,576,547 | 80,016,786 | (12,705,945) |
| Taxation | (22,652,121) | (32,570,508) | 2,027,525 | (5,953,685) |
| ————– | ————– | ————– | ————– | |
| Profit after tax | 148,926,078 | 69,105,139 | 82,044,311 | (18,659,630) |
| ————– | ————– | ————– | ————– | |
| Earnings per share – basic and diluted | 6.88 | 3.19 | 3.79 | (0.86) |
| ————– | ————– | ————– | ————– | |
For more information, contact:
Muhammad Ayub
CFO and Company Secretary
Faran Sugar Mills Limited
3rd Floor, Bank House No.1 Habib Square,
M.A. Jinnah Road,
Karachi-74000
Pakistan
UAN: +9221 111-786-878
Fax: +9221 242-1010