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

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Thursday, January 05, 2012 at 11:30 a.m. at the registered office: 101-1st Floor, Ocean Centre, Talpur Road, Karachi, approved the Audited Financial Statements of the Company for the year ended September 30, 2011 and decided not to declare any dividend because keeping in view, the review of the Financial Results, and factors stated in the Annual Report under Future Prospects, and the liquidity position as is evident from the Financial Statements do not permit to recommend dividend for the year ended September 30, 2011 The Financial Results of the Company are as follows:

 

Sep30

Sep 30

2011

2010

(Rupees in ‘000’)

Sales 1,498,297 2,679,922
Cost of sales 1,252,341 2,302,539
 ———  ———
Gross profit 245,956 377,383
Distribution cost  2,213 1,726
Administrative expenses  84,401 68,032
 ——— ———
 86,614 69,758
Other operating expenses 7,739 27,046
Finance cost  94,682 68,479
——— ———
102,421  95,525
———  ———
 56,921  212,100
Other operating income  7,423 947
  ——— ———
Net profit before taxation   64,344 213,047
Taxation  26,585 78,616
  ———  ———
Net profit after taxation  37,759  134,431
 ———  ———
Earning per share – Basic and diluted (Rupees)  3.16  11.25

 

The Annual General Meeting of Sanghar Sugar Mills Limited (SANSM) will be held on Tuesday, January 31, 2012 at 10:00 a.m. at Beach Luxury, Moulvi Tamizuddin Khan Road, Karachi.

The Share Transfer Books of the Company will be closed from January 20, 2012 to January 31, 2012 (both days inclusive).

We will send you the 300 copies of printed Financial Statements of the Company as per Listing Regulations for distribution amongst the members of the Exchange in due course.

For more information, contact:
Company Secretary
Sanghar Sugar Mills Limited
101 – 1st Floor, Ocean Centre,
Talpur Road, Karachi – Pakistan.
Tel: 32427171-72, 32416554
Fax: (021) 32410700,
E-mail: ssml@cyber.net.pk

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