Mirpurkhas 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 the company in its meeting held on Thursday, May 26, 2011 at 3.30 p.m. at the Registered Office of the Company at Modern Motors House, Beaumont Road, Karachi, has recommended the following:

(i)Cash DividendNil
(ii)Bonus IssueNil
(iii)Right IssueNil

The financial results of the Company are as follows:

 Half Year endedQuarter ended
March,31, 2011

 

March, 31, 2010

 

March, 31, 2011

 

March, 31, 2010

 

(Rupees’000)(Rupees ’000)(Rupees’000)(Rupees `000)
Turnover-net1,225,8411,161,573550,361472,094
Cost of sales(1,057,906)(1,068,399)(458,732)(458,477)
 ————————————
Gross profit167,93593,17491,62913,617
 ————————————
Distribution cost(2,075)(2,965)(1,381)(1,145)
Administrative expenses(43,451)(34,789)(24,395)(20,714)
Other operatintg expenses(4,568)(1,182)(1,715)2,772
 ————————————
(50,094)(38,936)(27,491)(19,087)
Other operating income3,3881,0181,899395
 ————————————
Operating profit/(loss)121,22955,25666,037(5,075)
Finance cost(64,558)(42,615)(47,242)(33,443)
 ————————————
56,67112,64118,795(38,518)
Share of Profit/(loss) in an associate29,3688,51023,555(1,695)
 ————————————
Profif/(loss) before taxation86,03921,15142,35040,213)
Taxahon————————————
Current(20,496)(6,649)(10,609)2,237
Deferred-7,203-10,834
 ————————————
(20,496)554(10,609)13,071
Profit/(loss) after taxation65,54321,70531,741(27,142)
 ————————————
Earning per Share BasicRs. 7.77Rs. 2.57Rs. 3.76Rs. (3.22)
 ————————————

For more information, contact:

Aslam Faruque

Chief Executive

Mirpurkhas Sugar Mills Limited

Modern motors house, Beaumont Road,

P.O. Box 5379 Karachi-75530,

Pakistan.

UAN: +9221 111-354-111

Tel: +9221 35682565-67

Fax: +9221 35682839

E-mail: msmho@gfg.com.pk