Haseeb Waqas Sugar Mills Limited’s financial results for the annual accounts ended on September 30, 2012

Karachi, January 01, 2013 (PPI-OT): This is to inform you that the Board of Directors’ Meeting of the Company held at 10:00 a.m. on Tuesday, January 01, 2013, has considered and approved the annual accounts of the Company for the year ended on September 30, 2012.

Approved Financial results of the company for the period under review are being provided through “Annexure A” enclosed herewith.

Moreover, during, the period under review the Board has not recommended any entitlement.

The Annual General Meeting of the company will be held on January 25, 2013 at 09.00 a.m. at its registered office, 06-F, Model Town, Lahore.

The Share Transfer Books of the Company will remain closed from January 18, 2013 to January 25, 2013 (both days inclusive). Transfer received at the registrar’s office of the company i.e. M/s Hameed Majeed Associates (Pvt.) Limited, H.M. House, 7-Bank Square, Lahore, at the close of business on 17th January, 2013 will be treated in time for the purpose of above entitlement to the transferees.

Annexure A

Profit and Loss Account for the Year Ended September 30, 2012

2012

2011

Note

Rupees

Sales-Net

22

1,917,276,929

3,087,852,644

Cost of goods sold

23

1,848,427,925

2,900,399,028

————-

————-

Gross Profit

68,849,004

187,453,616

Operating expenses:
Administrative and general expenses

24

36,495,107

30,425,613

- Other operating charges

25

625,000

2,241,177

————-

————-

37,120,107

32,666,789

————-

————-

31,728,897

154,786,827

Other operating income

26

17,063,235

43,851,733

————-

————-

Profit from operation

48,792,132

198,638,560

Finance cost

27

254,565,826

167,931,206

————-

————-

(Loss)/ Profit before taxation

(205,773,694)

30,707,355

Taxation

28

4,707,212

(12,382,947)

————-

————-

(Loss)/ Profit after taxation

(201,066,482)

18,324,407

————-

————-

Earning per share-basic

29

(6.21)

0.57

For more information, contact:
Haseeb Waqas Sugar Mills Limited
6-F, Model Town, Lahore Pakistan.
Phones: 042- 35917321 -23
Fax: 92-42- 35917317
E-mail: hwgc@hwgc.com.pk

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