Shahmurad 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 at 4.00 p.m. on Thursday, 29th December 2011 recommended the following:

i) Cash Dividend:

A Cash Dividend for the year ended 30th September 2011 @ Re. 1/= per share i.e. 10%. 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 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.

The financial results of the Company are as follows:

2011

2010

(Rupees in ’000)

Sales 4,392,083 4,440,856
Cost of sales (3,637,734) (3,858,567)
——— ———
Gross Profit 754,349 582,289
Distribution Cost (86,974) (61,677)
Administrative Expenses (109,548) (105,341)
Other Operating charges (23,180) (20,724)
Other Operating Income 16,240 17,813
——— ———
Operating Profit 550,887 409,360
Finance Cost (462,637) (341,664)
——— ———
88,250 67,696
Share of profit/(loss) in an associate 276 (388)
——— ———
Froth before taxation 88,526 67,308
Taxation 1,191 (35,060)
——— ———
Profit after taxation 89,717 32,248
——— ———
Earnings per share – Basic and diluted (Rupees) 4.25 1.53

 

The Annual General Meeting of the Company will be held on Monday, 30th January 2012 at 3.30 p.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
Shahmurad Sugar Mills Limited
96-, Sindhi Muslim,
Housing Society,
Karachi- 74400

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