Habib Sugar Mills Limited’s condensed interim financial results for the quarter and cumulative for three quarters ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on Wednesday, July 27, 2011 at 12.00 noon, at Habib Sugar Mills Limited (HABSM), 3rd floor, Imperial Court, Dr. Ziauddin Ahmed Road, Karachi, approved the following:

(1) Cash Dividend                            - Nil

And/or

(2) Bonus Issue                              – Nil

And/or

(3) Right Shares                              -Nil

And/or

(4) Any Other Entitlement/Corporate Action    -N/A

And/or

(5) Any Other Price-Sensitive Information     -N/A

The financial results of the Company are as follows

Three quarters ended

Quarter ended

June 30,

June 30,

June 30,

June 30,

2011

2010

2011

2010

(Rupees in thousunds)

Segment operating results
Net sales and services6,180,1145,148,0942,391,4842,313,774
Cost of sales(5,200,139)(4,333,321)(2,105,609)(1,973,372)
———–———–———–———–
Gross Profit979,975814,773285,855340,402
Distribution and marketing expenses(125,009)(106,221)(41,884)(39,876)
Administrative expenses(78,501)(68,545)(26,503)(22,911)
Other operating expenses(60,381)(47,908)(15,497)(19,740)
Other operating income68,43036,6029,6889,192
———–———–———–———–
(195,461)(186,072)(74,196)(73,235)
———–———–———–———–
Operating Profit784,514628,701211,659267,067
Finance income / (cost) – net17,6817,783(5,781)(4,814)
———–———–———–———–
Profit before taxation802,195838,484205,070262,263
Taxation(240,000)(200,000)(65,000)(85,000)
———–———–———–———–
Profit after taxation562,195436,484140,678177,253
———–———–———–———–
(Restated)(Restated)
Earnings per share – basic and diluted Rs.3.752.910.941.18

For more information, contact:
Cawas R. Sethna
Company Secretary
Habib Sugar Mills Limited
3rd /4th floor, Imperial Court,
Dr. Ziauddin Ahmed Road,
Karachi-
Fax: +9221 35684086