Crescent Sugar Mills and Distillery Limited’s Financial Result for the Quarter and Six Months Ended March 31, 2011

Karachi: We have to inform you that the Board of Directors of Crescent Sugar Mills and Distillery Limited (CSMD) in their Meeting held today at 10:30 a.m. at Faisalabad have recommended the following:

1. Cash Dividend:

An Interim Cash Dividend for the quarter ended March 31, 2011 at Rs. Nil per share i.e. Nil %. This is in addition to interim Dividend(s) already paid at Rs. Nil per share i.e. Nil %.

2. Bonus Shares:

It has been recommended by the Board of Directors to Issue interim Bonus shares in proportion of Nil shares(s) for every Nil share(s) held i.e. Nil % This is in addition to the interim Bonus Shares already issued @ Nil %

3. Right Shares:

The Board has recommended to issue Nil % shares at par/at a discount/premium of Rs. Nil per share in proportion of Nil Share(s) being declared simultaneously will be twill not be applicable on Bonus Shares as declared above.

The financial results of the Company arc as follows:-

  (Rupees in 000)
Half YearQUARTER
EndedEndedEndedEnded
March 31March31March 31March 31
2011201020112010
Continuing operations:    
Sales2,378,5911,204,2631,284,750607,956
Cost of sales2,164,3541,036,2161,180,555502,979
 ————————————
Gross Profit217,237168,047104,195104,977
Distribution Cost50,30923,11025,6608,371
Administrative Expenses28,38620,60115,97410,612
Other Operating Expenses6,6729013,584901
 ————————————
85,36744,61245,21819,884
————————————
131,870123,43558,97785,093
Other Operating Income23,01341924792
 ————————————
Profit from Operations154,883123,85459,22485,185
Finance Cost34,90328,99819,80214,880
 ————————————
Profit before Taxation119,98094,85639,42270,305
Provision for Taxation24,1997,73318,0694,338
 ————————————
Profit After Taxation from    
Continuing Operations95,78187,12321,35365,967
Discontinued Operations:    
Loss/Profit After Taxation

From Discontinued Operations

21,67678,10522,46664,607
 ————————————
Profit After Taxation74,1059,01843,8191,360
Earning Per Share-Basic And

Diluted (Rupees) Continuing Operations

4.4804.081.003.09
 ————————————
Discontinued Operations(1.01)(3.65)1.05(3.02)
 ————————————

For more information, contact:

Sami Ullah Ch.

Company Secretary

Crescent Sugar Mills and Distillery Limited

New Lahore Road,

Post Box No. 11,

Faisalabad – Pakistan

Tel: +9241 8752111-14

Fax: +9241 8750366

Email: info@crescentsugar.com