Karachi: We have to inform you that the Board of Directors of the Company has approved the accounts for the Half Year ended March 31, 2011 on May 23, 2011 at 41-K, P.E.C.H.S., Karachi declaring no entitlement for the shareholders.
The financial results of the Company are as follows:
| For The Half Year Ended | For The Quarter Ended | |||
| March 31, 2011 | 2010 | 2011 | 2010 | |
| Rupees | Rupees | Rupees | Rupees | |
| Sales – Net | 2,540,483,165 | 2,128,532,706 | 1,894,291,652 | 1,662,891,885 |
| Cost of sates | (2,427,902,812) | (1,996,686,368) | (1,823,390,977) | (1,609,023,744) |
| ————- | ————- | ————- | ————- | |
| 112,580,353 | 131,846,338 | 70,900,675 | 53,868,141 | |
| Operating expenses | ||||
| Administrative expenses | 47,613,068 | 43,667,466 | 25,304,506 | 23,885,002 |
| Distribution cost | 2,416,144 | 1,785,864 | 1,720,592 | 1,346,721 |
| ————- | ————- | ————- | ————- | |
| 50,029,212 | 45,453,330 | 27,025,098 | 25,231,723 | |
| ————- | ————- | ————- | ————- | |
| Operating profit | 62,551,141 | 86,393,008 | 43,875,577 | 28,636,418 |
| ————- | ————- | ————- | ————- | |
| Finance costs | 37,490,870 | 36,087,161 | 19,695,350 | 18,231,179 |
| Other charges | 71,571 | 404,340 | 38,571 | 304,340 |
| Income on long term investment | (4,845,835) | – | (4,845,835) | – |
| Other loss/ (gain) | 15,979 | (15,280) | 20,079 | (14,200) |
| ————- | ————- | ————- | ————- | |
| 32,732,585 | 36,476,221 | 14,908,165 | 18,521,319 | |
| ————- | ————- | ————- | ————- | |
| Profit before taxation | 29,818,556 | 49,916,787 | 28,967,412 | 10,115,099 |
| Taxation | ||||
| Current | (25,405,029) | (10,642,740) | (18,943,073) | (8,314,530) |
| Prior | (40,363) | – | (40,363) | – |
| Deferred | (1,954,423) | – | 4,940,011 | – |
| ————- | ————- | ————- | ————- | |
| (27,399,815) | (10,642,740) | (14,043,425) | (8,314,530) | |
| ————- | ————- | ————- | ————- | |
| Profit after taxation | 2,418,741 | 39,274,047 | 14,923,987 | 1,800,569 |
| ————- | ————- | ————- | ————- | |
| Earnings per share | Rs. 0.11 | Rs. 1.76 | Rs. 0.67 | Rs. 0.08 |
| ————- | ————- | ————- | ————- | |
For more information, contact:
Mustafa Kanani
Company Secretary
Sakrand Sugar Mills Limited
41-K, Block-6,
P.E.C.H.S., Karachi-75400,
Pakistan.
UAN: +9221 111-48-48-48
Tel: +9221 34531642
Fax: +9221 34546456
Email: admin@sakrandsugar.com