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

Karachi: We have to inform you that the Board of Directors of the Company in its meeting held on Tuesday, July 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:

 

(1)Cash DividendNil
(2)Bonus IssueNil
(3)Right IssueNil

The financial results of the Company are as follows:

Period Ended

Quarter Ended

June 30, 2011

June 30, 2010

June 30, 2011

June  30, 2010

(Rupees ‘000′)

(Rupees ‘000′)

Turnover – net2,425,7012,081,4621,199,860919,889
Cost of sales(2,034,736)(1,861,573)(976,830)(793,174)
———————————–
Gross Profit390,965219,889223,030126,715
Distribution cost(3,818)(3,914)(1,743)(949)
Administrative expenses(62,300)(50,749)(18,849)(15,960)
Other operating expenses(18,528)(6,011)(10,960)(4,829)
———————————–
(81,646)(60,674)(31,552)(21,738)
Other Operating Income3,5181,634130616
———————————–
Operating profit312,837160,849191,608105,593
Finance cost(108,971)(84,856)(44,413)(42,241)
———————————–
Share of profit in an associate208,86675,993147,195(63,352)
Profit before taxation41,04516,68011,6778,170
———————————–
244,91192,673158,87271,522
Taxation
- Current(27,173)(11,523)(6,677)(4,874)
- Deferred-(31,023)-(38,226)
———————————–
(27,173)(42,546)(6,677)(43,100)
———————————–
Profit after taxation217,73850,127152,19528,422
———————————–
Earnings per share–Basic- (Rupees)25.825.9418.05 3.37

For more information, contact:
Aslam Faruque
Chief Executive
Mirpurkhas Sugar Mills Limited
Modren Motors House, Beaumont Road,
P.O.Box 5379 Karachi-75530, Pakistan.
UAN: +9221 111-354-111
Tel: +9221 3568565-67
Fax: +9221 35682839
Email: msm@gfg.com.pk