Husein Sugar Mills Limited’s financial results for the year ended September 30, 2011

Karachi: We inform you that Board of Directors of Husein Sugar Mills Limited (HUSS) has considered/approved audited financial statements of the Company for the year ended September 30, 2011 in their meeting held on 31st December, 2011 at 11:30 at its Registered Office 30-A/E-1, Old F.C.C. Gulberg-III, Lahore and has not recommended any dividend. The summarized financial results of the Company are as under:

 

Year ended September 30

2011

2010

Sales 3,477,698,909 1,824,195,244
Cost of sales (3,184,341,030) (1,973,801,846)
————- ————-
Gross Profit/(Loss) 293,357,879 (149,606,602)
Distribution Cost (7,815,000) (4,809,924)
Administrative Expenses (98,606,236) (76,729,662)
 Other Operating Expenses (14,676,383) (184,207)
————- ————-
(121,097,619) (81,723,793)
————- ————-
172,260,260 (231,330,395)
Other Operating Income 13,488,583 5,223,846
————- ————-
Profit/(Loss) from Operations 185,748,843 (226,106,549)
Finance Cost (66,503,859) (71,343,411)
————- ————-
Profit/(Loss) before Taxation 119,244,984 (297,449,960)
Provision for Taxation (49,352,751) 126,486,629
————- ————-
Profit/(Loss) after Taxation 69,892,233 (170,963,331)
————- ————-
Earnings/(Loss) per Share – Basic and diluted 5.32 (13.87)

 

The Annual General Meeting of the Company is scheduled to be held on Monday, the 30th January, 2012, at 11:30 A.M. at its Registered Head Office 30-A/E-1, Old F.C.C., Gulberg-III, Lahore.

The Share Transfer Books of the Company will remain closed from January 24th January, 2012 to 30th January 2012 (both days inclusive). Transfers received at the Company’s Registrar Office at the close of business i.e. on January 23, 2012 will be treated in time.

As the Board Meeting convened on exchanges off day, following today’s mails through Courier, the declaration will be faxed on next working day i.e., on Monday, the 2nd January, 2012, morning.

For more information, contact:
Husein Sugar Mills Limited
30 A/E-1, Old FCC, Gulberg III, Lahore.
Ph: 042-35762089-90, 5878153
Fax: 042-5712680
Website: www.huseinsugarmills.com
E-mail: info@huseinsugarmills.com

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