Karachi: We have to inform you that the Board of Directors of the company in its meeting held on Thursday, May 26, 2011 at 3.30 p.m. at the Registered Office of the Company at Modern Motors House, Beaumont Road, Karachi, has recommended the following:
| (i) | Cash Dividend | Nil |
| (ii) | Bonus Issue | Nil |
| (iii) | Right Issue | Nil |
The financial results of the Company are as follows:
| Half Year ended | Quarter ended | |||
| March,31, 2011
| March, 31, 2010
| March, 31, 2011
| March, 31, 2010
| |
| (Rupees’000) | (Rupees ’000) | (Rupees’000) | (Rupees `000) | |
| Turnover-net | 1,225,841 | 1,161,573 | 550,361 | 472,094 |
| Cost of sales | (1,057,906) | (1,068,399) | (458,732) | (458,477) |
| ——— | ——— | ——— | ——— | |
| Gross profit | 167,935 | 93,174 | 91,629 | 13,617 |
| ——— | ——— | ——— | ——— | |
| Distribution cost | (2,075) | (2,965) | (1,381) | (1,145) |
| Administrative expenses | (43,451) | (34,789) | (24,395) | (20,714) |
| Other operatintg expenses | (4,568) | (1,182) | (1,715) | 2,772 |
| ——— | ——— | ——— | ——— | |
| (50,094) | (38,936) | (27,491) | (19,087) | |
| Other operating income | 3,388 | 1,018 | 1,899 | 395 |
| ——— | ——— | ——— | ——— | |
| Operating profit/(loss) | 121,229 | 55,256 | 66,037 | (5,075) |
| Finance cost | (64,558) | (42,615) | (47,242) | (33,443) |
| ——— | ——— | ——— | ——— | |
| 56,671 | 12,641 | 18,795 | (38,518) | |
| Share of Profit/(loss) in an associate | 29,368 | 8,510 | 23,555 | (1,695) |
| ——— | ——— | ——— | ——— | |
| Profif/(loss) before taxation | 86,039 | 21,151 | 42,350 | 40,213) |
| Taxahon | ——— | ——— | ——— | ——— |
| Current | (20,496) | (6,649) | (10,609) | 2,237 |
| Deferred | – | 7,203 | – | 10,834 |
| ——— | ——— | ——— | ——— | |
| (20,496) | 554 | (10,609) | 13,071 | |
| Profit/(loss) after taxation | 65,543 | 21,705 | 31,741 | (27,142) |
| ——— | ——— | ——— | ——— | |
| Earning per Share Basic | Rs. 7.77 | Rs. 2.57 | Rs. 3.76 | Rs. (3.22) |
| ——— | ——— | ——— | ——— | |
For more information, contact:
Aslam Faruque
Chief Executive
Mirpurkhas Sugar Mills Limited
Modern motors house, Beaumont Road,
P.O. Box 5379 Karachi-75530,
Pakistan.
UAN: +9221 111-354-111
Tel: +9221 35682565-67
Fax: +9221 35682839
E-mail: msmho@gfg.com.pk