Crescent Sugar Mills and Distillery Limited’s financial results for the 1st quarter ended December 31, 2011

Karachi: We have to inform you that the Board of Directors of Crescent Sugar Mills and Distillery Limited (CSMD) in their Meeting held today at 10:30 a.m. at Faisalabad have recommended the following:

i) Cash Dividend

An Interim Cash Dividend for the quarter ended December 31, 2011 at Rs. Nil per share i.e. Nil %. This Is in addition to interim Dividend(s) already paid at Rs. Nil per share i.e. Nil %.

ii) Bonus Shares

It has been recommended by the Board of Directors to issue interim Bonus shares in proportion of Nil shares(s) for every Nil shares share(s) held i.e. Nil % This is in addition to the Interim Bonus Shares already Issued © Nil %

iii) Right Shares

The Board has recommended to issue Nil % shares at par/at a discount premium of Rs. Nil per share in proportion of Nil Share(s) being declared simultaneously will be /will not be applicable on Bonus shares as declared above.

The financial results of the Company are as follows:-

 

Rupees in 000

Quarter Ended

Quarter Ended

December 31

December 31

2011

2010

Continuing Operation:
Sales 892,882 1,091,107
Cost of Sales (832,588) (977,901)
———- ———-
Gross Profit 60,324 113,206
Distribution Cost (20,545) (24,501)
Administrative Expenses (15,120) (12,398)
Other Operating Expenses (3,088)
———- ———-
(35,665) (39,987)
———- ———-
24,659 73,219
Other Operating Income 207 22,766
———- ———-
Profit from Operation 24,866 92,985
Finance Cost (17,222) (15,101)
———- ———-
Profit Before Taxation 7,644 80,684
Provision For Taxation (8,928) (5,456)
———- ———-
Profit/ (Loss) After Taxation From
Continuing Operations (1,284) 75,428
———- ———-
Discontinued Operations:
(Loss) After Taxation From
Discontinued Operations (9,466) (22,336)
———- ———-
(10,750) 53,092
———- ———-
Earnings/(Loss) Per Share – Basic and Diluted (Rupees):
– Continuing Operations (0.06) 3.53
– Discontinued Operations (0.44) (1.04)

 

For more information, contact:
Sami Ullah Ch.
Company Secretary
Crescent Sugar Mills and Distillery Limited
New Lahore Road,
Post Box No. 11, Faisalabad – Pakistan
Tele: 041-8752111-14
Fax: 041-8750366

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