JDW Sugar Mills Limited’s Financial Results for the Half Year Ended March 31, 2011

Karachi: We have to inform you that the Board of Directors of JDW Sugar Mills Limited (JDWS) in their meeting held on May 27, 2011 at 11:00 a.m. at 17-Abid Majeed Road, Cantt Lahore, have approved the following.

The financial results of the Company for the Half Year ended March 31, 2011 are as follows:

 Six months endedQuarter ended
31 March31 March31 March31 March
2011201020112010
RupeesRupeesRupeesRupees
 Restated Restated
Gross sales15,302,446,90910,922,100,0249,376,064,8655,601,506,791
Less Sales tax and special Excise duty894,571,833543,146,294641,656,733252,663,899
 —————-———————————————
Net sals14,407,875,07610,378,953,7308,734,408,1325,348,842 892
Cost of sales(11,243,598,584)(7,960,530,584)(6,935,763,624)(4,461,038,016)
 —————-———————————————
Gross profit3,164,276,4922,418,423,1461,798,644,508887,804,876
Administrative expenses(193,472,788)(165,090,963)(113,152.758)(91,137,241)
Distribution and marketing expenses(9,155,291)(8,215,464)(5,732,636)(4,018,644)
Other operating expenses(263,352,542)(156,235,143)(144,414,833)(56,406,157)
Other operating income33,271,11533,859,35220,775,40421,521,978
 (432,709,506)(295,682,218)(242,524,823)(130,040,064)
—————-———————————————
Operating profit2,731,566,9862,122,740,9281,556,119,685757,764,812
Finance cost(455,029,257)(555,946,575)(296,333,576)(333,870,597)
 —————-———————————————
Profit before taxation2,276,537,7291,566,794,3531,259,786,109423,894,215
Taxation(920,302,584)(775,672,318)(595,056,461)(221,461,293)
 —————-———————————————
Profit after taxation1,356,235,145791,122,035664,729,648202,432,922
 —————-———————————————
Basic earnings per share25.l716.3312.344.18
 —————-———————————————

Announcement of Right Shares:

The Board of Directors has decided to issue ten percent (10%) right shares at price of Rs. 70 per share (inclusive per share premium of Rs. 60) in proportion of 1 (one) share for every 10 (ten) shares.

The share transfer books of the Company will be closed from June 23, 2011 to June 30, 2011 (both days inclusive) for the purpose to determine the said right shares entitlement. Transfers received at the office of Shares’ Registrar at Wing Arcade, 1-K Commercial, Model Town, Lahore, at the close of business on June 22, 2011 will be treated in time for the purpose of above entitlement to the transferees.

 

It is further informed that no Cash Dividend or Bonus Shares have been recomme6nded by the board.

For mor information, contact:

Muhammad Rafique

Company Secretary

JDW Sugar Mills Limited

17-Abid Majeed Road,

Lahore Cantt Lahore,

PABX #: +9242 36664891-92

Fax: +9242 36654490

Email jdwho@jdw-group.com