Crescent Sugar Mills and Distillery Limited’s financial results for the quarter and nine months ended June 30, 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:

(i) Cash Dividend

An Interim Cash Dividend for the quarter ended June 30, 2011 at Rs. Nil per share Le Nil %. This is in addition to interim Dividend(s) already paid at Rs. Nil per share i.e Nil %

(ii) 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 shares share(s) held i.e Nil % This is in addition to the interim Bonus Shares already issued @ Nil %

(iii) 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 /will not be applicable on Bonus shares as declared above.

The financial results of the Company are as follows:-

(Rupees in thousand)

Nine Months Ended

QUARTER ENDED

30 June

30 June

30 June

30 June

2011

2010

2011

2010

CONTINUING OPERATIONS:
SALES 3,546,1681,844,8471,167,577640,584
COST OF SALES(3,264,715)(1,604,509)(1,103,361)(568,293)
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GROSS PROFIT281,453240,33864,21672,291
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DISTRIBUTION COST(79,422)(28,507)(29,113)(5,397)
ADMINISTRATIVE EXPENSES(43,019)(31,554)(14,633)(10,953)
OTHER OPERATING EXPENSES(5,569)-1,103901
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(128,010)(60,061)(42,643)(15,449)
——–—————–———
153,443180,27721,57356,842
OTHER OPERATING INCOME23,64812,46363512,044
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PROFIT FROM OPERATIONS177,091192,74022,20868,886
FINANCE COST(47,898)(38,120)(12,995)(9,122)
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PROFIT BEFORE TAXATION129,193154,6209,21359,764
PROVISION FOR TAXATION(35,462)(9,224)(11,263)(1,491)
PROFIT/(LOSS) AFTER TAXATION
FROM
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CONTINUING OPERATIONS93,731145,396(2,050)58,273
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DISCONTINUED OPERATIONS(31,562)(136,781)(9,886)(58,676)
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PROFIT/(LOSS) AFTER TAXATION62,1698,615(11,936)(403)
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AND DILUTED (RUPEES):
- CONTINUING OPERATIONS4.386.80(0.10)2.73
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- DISCONTINUED OPERATIONS(1.48)(6.40)(0.46)(2.74)

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
E-mail:info@crescentsugar.com