Al-Noor Sugar Mills Limited’s financial results for the year ended 30TH September 2011

Karachi: We have to inform you that Board of Directors of our Company in their meeting held on Thursday, 29th December 2011 at 11.30 a.m. recommended the following:

i) Cash Dividend:

 

A Cash Dividend for the period ended 30th September 2011 @ Rs. 3/= per share i.e. 30%. Interim Dividend has already been paid at Rs. Nil per share i.e. NIL%.

ii) Bonus Issue:

It has been recommended by the Board of Directors to issue Interim Bonus Shares in the proportion of Nil, shares for every Nil shares held i.e. Nil%. The Bonus Shares will be entitled/not entitled for the Right Shares.

iii) Right Shares:

The Board has also recommended to issue Nil % Right Shares at par/at a premium of Rs. Nil. Per share in proportion of Nil shares for every Nil shares.

The financial results of the company are as follow:

 

2011

2010

(Rupees in ‘000’)

Sales  5,983,046  6,313,220
Cost of sales (5,246,478)  (5,311,417)
 ———   ———
Gross Profit 736,568 1,001,803
Profit from trading activities 2,625  2,647
Other operating income  23,937 2,391
 ———  ———
  763,130 1,006,841
Distribution cost (16,882) (18,393)
Administrative expenses  (283,795)  (236,853)
Other operating expenses (14,620) (34,895)
Finance cost (412,252) (329,899)
Share of profit of associated undertakings  14,294 4,652
———  ———
Profit before taxation 59,875 391,453
Taxation  44,590  (137,055)
——— ———
Profit for the year 104,465 254,398
 ——— ———
Earnings per share – Basic and Diluted (Rupees) 5.63  13.70

 

The Annual General Meeting of the Company will be held on Monday, 30th January 2012 at 10.30 a.m. at the Registered Office of the Company.

The Shares Transfer Book of the Company will be closed from 23rd January 2012 to 2nd February 2012 (both days inclusive). Transfers received in order at the Registrar’s Office of the company i.e. M/s. C and K Management Associates (Private) Limited, 404-Trade Towers, Abdullah Haroon Road. Near Metropole hotel, Karachi by the close of business on 22nd January 2012 will be treated in time for the purpose of transfer.

For more information, contact:
M. Yasin Mughal
Company Secretary
Al-Noor Sugar Mills Limited
96-A Sindhi Muslim Housing Society,
Karachi- 74400, Pakistan

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