Faran Sugar Mills Limited’s financial results for the year ended 30th September 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on 5th January 2012 at 3:30 P.M. at our registered office of the Company, 2nd Floor, Bank House No. 1, Habib Square, M.A. Jinnah Road, Karachi recommended the following:

Cash Dividend

Cash Dividend for the year ended September 30, 2011 at Rs. 2.5 per share i.e. 25%.

Bonus Shares   NIL

Right Shares    NIL

The Financial Results of the Company are as follows:

2011

2010

(Rupees)

Sales – net 3,855,074,526 3,989,927,964
Cost of sales (3,442,701,348) (3,746,036,221)
————- ————-
Gross profit 412,373,118 243,891,743
Administrative expenses (55,844,967) (49,008,628)
Selling and distribution cost (9,093,537) (4,205,866)
Other operating expenses (21,862,452) (14,070,666)
————- ————-
(86,800,956) (67,284,980)
————- ————-
Operating profit 325,572,222 176,606,763
Other operating income 43,063,544 24,372,850
Share in profit of associate 40,703,369 6,286,135
————- ————-
83,846,913 32,658,985
————- ————-
409,419,135 209,265,748
Finance cost (99,118,414) (51,948,812)
————- ————-
Profit before taxation 310,300,721 157,316,936
Taxation (75,964,972) (49,411,987)
————- ————-
Profit after taxation 234,335,749 107 904 949
————- ————-
Earnings per share – basic and diluted 10.82 4.98

 

The Annual General Meeting of the Company will be held on Tuesday, 31st January, 2012 at 12:00 A.M. at Haji Abdullah Haroon Muslim Gymkhana, Aiwan-e-Saddar Road, Karachi.

The Share transfer Books of the Company will be closed from 23rd January 2012 to 31st January 2012 (both days inclusive).

For more information, contact:
Muhammad Ayub
CFO and Company Secretary
Faran Sugar Mills Limited
Floor, Bank House No. 1,
Habib Square, M.A. Jinnah Road,
Karachi – 74000,
Pakistan.
UAN: 111-786-878
Fax: (92-21) 3242-1010
Email: info@faran.com.pk
Web: www.faran.com.pk

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