Adam Sugar Mills Limited’s Financial Result For the Half Year Ended March 31, 2011

Karachi: We have to inform you that Board of Directors of our Company in their Meeting held on Tuesday, May 24, 2011 at 12:00 p.m. at the registered office of the company recommended the following:

1) Cash Dividend                  NIL

2) Bonus Shares                    NIL

3) Right Shares                     NIL

The financial results of the Company are as following:

Half Year EndedQuarter Ended
March 31March 31March 31March 31
2011201020112010
RupeesRupees
Sales – net2,199,112,8861,027,244,6132,020,063,322537,434,345
Cost of sales(1,989,914,065)(906,735,341)(1,829,391,640)(448,029,755)
————-————-————-————-
Gross profit209,198,821120,509,272190,671,68289,404,590
Administrative expenses(18,019,562)(14,741,225)(10,897,752)(8,838,121)
Selling expenses(1,676,391)(870,852)(1,576,385)(705,372)
————-————-————-————-
(19,695,853)(15,612,077)(12,474,137)(9,543,483)
————-————-————-————-
Operating profit189,502,868104,897,195178,197,54579,861,097
Other operating income3,472,4947,477,3482,446,809366,613
————-————-————-————-
192,975,362112,374,543180,644,35480,227,710
Financial charges(28,984,067)(18,720,085)(27,407,486)(14,816,191)
Workers’ profit
participation fund(8,199,565)(4,682,723)(7,583,015)(3,270,577)
Workers’ welfare fund(3,299,597)(1,779,435)(3,065,308)(1,253,342)
————-————-————-————-
(40,483,229)(25,182,243)(38,055,809)(19,340,110)
————-————-————-————-
Profit before taxation152,492,13387,192,300142,588,54560,887,600
Taxation
Current(56,588,083)(29,881,083)(51,543,180)(27,432,032)
Deferred2,447,443(3,158,293)2,447,443(3,158,293)
————-————-————-————-
(54,140,640)(33,039,376)(49,095,737)(30,590,325)
————-————-————-————-
Profit after taxation98,351,49354,152,92493,492,80830,297,275
Earning per share – Basic and diluted17.069.4016.225.26

 

For more information, contact:

Chief Executive

Adam Sugar Mills Limited

Haji Adam Chambers,

P.O. Box 42-4,

Altaf Hussain Road,

New Challi,

Karachi-Pakistan

Telegrams: Sweet Sugar

Telex: 25183 ADAM PK

Fax: +9221 32427560