Mehran Sugar Mills Limited’s financial results for the nine months ended June 30, 2011

Karachi: Pleased be informed that the Board of Directors of our Company in their meeting held on July 27, 2011 at 11.00 am at the registered office of the Company recommended the following:

Cash Dividend

An interim Cash Dividend (3rd) for the nine months ended June 30, 2011 at Re. 0.75 per share i.e.7.5%.

The Financial Results of the Company are as follows.

Nine months ended

Quarter ended

June 30, 2011

June 30, 2010

June 30, 2011

June 30, 2010

Rupees

Rupees

Turnover4,241,162,5873,244,403,952967,158,3821,614,269,451
Less: Sales tax and E Duty(214,951,661)(151,011,514)(84,100,469)(70,234,181)
——————————————-—————
Net sales4,026,210,9263,093,392,438883,057,9131,544,035,270
Cost of sales(3,491,677,411)(2,704,709,460)(782,707,525)(l,412,422,721)
——————————————-—————
Gross profit534,533,515388,682,978100,350,388131,612,549
Distribution costs(4,837,819)(5,119,718)(789,316)(635,304)
Administrative expenses(78,003,131)(61,263,575)(20,771,334)(19,649,246)
Other operating expenses(29,689,235)(21,034,687)(2,574,521)(6,615,023)
Other operating income55,455,75724,111,2256,404,8393,892,080
——————————————-—————
(57,074,428)(63,306,755)(17,730,332)(23,007,493)
——————————————-—————
Operating profit477,459,087325,376,22382,620,057108,605,056
Finance costs(108,689,296)(63,691,389)(56,111,688)(28,889,627)
Share of profit from an associate–

net of tax

43,239,90416,679,94511,677,3728,169,892
——————————————-—————
Profit before taxation412,009,695278,364,77938,185,74187,885,321
Taxation(123,581,604)(86,947,578)(8,629,435)(27,498,592)
————-—————————-—————
Profit after taxation288,428,091191,417,20129,556,30660,386,729
——————————————-—————
RestatedRestated
Earning per share-Basic and

diluted

16.6811.071.71 3.49

Share transfer books shall remain closed from August 17, 2011 to August 23, 2011 (both days inclusive).

 

For more information, contact:
Muhammad Hanif Aziz
Company Secretary
Mehran Sugar Mills Limited
Adamjee House, 8th Floor,
I.I. Chundrigar Road,
Karachi-74000.
Pakistan