Al-Abbas Sugar Mills Limited’s Financial Results for the Half Year Ended March 31, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Wednesday, May 25, 2011 at 02:00 PM recommended “No Announcement for Any Entitlement”. The financial results of the Company are as follows:

Six Months Period EndedQuarter Ended
March 31,

2011

March 31,

2010

March 31,

2011

March 31,

2010

(Rupees in thousand)
Continuing operations    
Turnover3,479,0982,158,0581,358,611958,597
Cost of sales(3,041,954)(1,813,862)(1,086,576)(829,407)
 ———–———–———–———
Gross profit437,144344,196272,035129,190
Distribution cost(47,893)(51,943)(28,744)(31,970)
Administrative expenses(55,666)(49,640)(32,229)(23,163)
Other operating expenses(15,843)(11,993)(10,017)2,589
 ———–———–———–———
(119,402)(113,576)(70,990)(52,544)
Operating profit317,742230,620201,04576,646
Finance cost(153,004)(152,848)(95,203)(96,393)
Other Operating income36,21138,45016,49831,339
 ———–———–———–———
Profit before taxation200,949116,222122,34011,592
Taxation    
Current(34,879)(10,846)(13,674)(4,849)
Deferred-(4,942)-2,507
 ———–———–———–———
(34,879)(15,788)(13,674)(2,342)
———–———–———–———
Profit after taxation from continuing    
operations166,070100,434108,6669,250
Discontinued operations    
Loss from discontinued operations(12,502)-(12,502)-
 ———–———–———–———
Net profit for the year153,568100,43496,1649,250
 ———–———–———–———
Basic and Diluted earnings per share-    
Rupees8.845.785.540.53
 ———–———–———–———

For more information, contact:

Zubair Ahmed Edhi

Manager Shares,

Zuhair Abbas

Chief Financial Officer

Al-Abbas Sugar Mills Limited

Pardesi House,

Survey No. 2/1, R.Y. 16

Old Queens Road

Karachi-74000

UAN: +9221 111-111-224

Fax: +9221 2470090

Purchase Department Fax: 2470096

E-mail: sugar@cyber.net.pk

Web: www.aasml.com