Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on May 27, 2011 at 11:00 an. at the registered office: 101-1st Floor, Ocean Centre, Talpur Road, Karachi, have approved the Un-audited Condensed Interim Financial Information of the Company for six months period ended March 31, 2011 and decided not to declare any interim dividend. The financial results of the Company are as follows:
| Six months period ended | Quarter ended | |||
| Mar 31 | Mar 31 | Mar 31 | Mar 31 | |
| 2011 | 2010 | 2011 | 2010 | |
| (Rupees in ’000′) | ||||
| Sales | 1,006,166 | 711,480 | 786,631 | 352,230 |
| Cost of sales | 875,022 | 510,326 | 700,852 | 230,171 |
| ——— | ——– | ——- | ——– | |
| Gross profit | 131,144 | 201,154 | 85,779 | 122,059 |
| Distribution cost | 1,971 | 1,174 | 1,531 | 896 |
| Administrative expenses | 46,251 | 37,053 | 29,122 | 20,921 |
| ——— | ——– | ——- | ——– | |
| 48,222 | 38,227 | 30,653 | 21,817 | |
| Other operating income | 5,607 | 907 | 933 | 883 |
| ——— | ——– | ——- | ——– | |
| 88,529 | 163,834 | 56,059 | 101,125 | |
| Finance cost | 30,247 | 28,699 | 26,425 | 23,857 |
| Other operating charges | 5,242 | 10,501 | 2,974 | 6,289 |
| ——— | ——– | ——- | ——– | |
| 35,489 | 39,200 | 29,399 | 30,146 | |
| ——— | ——– | ——- | ——– | |
| Net profit before taxation | 53,040 | 124,634 | 26,660 | 70,979 |
| Taxation | 10,855 | 44,732 | 719 | 24,881 |
| ——— | ——– | ——- | ——– | |
| Net profit after taxation | 42,185 | 79,902 | 25,941 | 46,098 |
| ——— | ——– | ——- | ——– | |
| Earnings per share – Basic and diluted | 3.53 | 6.69 | 2.17 | 3.86 |
| ——— | ——– | ——- | ——– | |
For more information, contact:
Company Secretary
Sanghar Sugar Mills Limited
101 – 1st Floor, Ocean Centre,
Talpur Road, Karachi – Pakistan.
Tel: +9221 32427171-72
Fax: +9221 32410700,
E-mail: ssml@cyber.net.pk