Crescent Sugar Mills and Distillery Limited’s financial results for the 1st quarter ended December 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:

i) Cash Dividend

An Interim Cash Dividend for the quarter ended December 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 %.

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 000

Quarter Ended

Quarter Ended

December 31

December 31

2011

2010

Continuing Operation:
Sales892,8821,091,107
Cost of Sales(832,588)(977,901)
———-———-
Gross Profit60,324113,206
Distribution Cost(20,545)(24,501)
Administrative Expenses(15,120)(12,398)
Other Operating Expenses-(3,088)
———-———-
(35,665)(39,987)
———-———-
24,65973,219
Other Operating Income20722,766
———-———-
Profit from Operation24,86692,985
Finance Cost(17,222)(15,101)
———-———-
Profit Before Taxation7,64480,684
Provision For Taxation(8,928)(5,456)
———-———-
Profit/ (Loss) After Taxation From
Continuing Operations(1,284)75,428
———-———-
Discontinued Operations:
(Loss) After Taxation From
Discontinued Operations(9,466)(22,336)
———-———-
(10,750)53,092
———-———-
Earnings/(Loss) Per Share – Basic and Diluted (Rupees):
- Continuing Operations(0.06)3.53
- Discontinued Operations(0.44)(1.04)

 

For more information, contact:
Sami Ullah Ch.
Company Secretary
Crescent Sugar Mills and Distillery Limited
New Lahore Road,
Post Box No. 11, Faisalabad – Pakistan
Tele: 041-8752111-14
Fax: 041-8750366