Mirpurkhas Sugar Mills Limited’s financial results for the nine months period ended June 30, 2012

Karachi, July 26, 2012 (PPI-OT): We have to inform you that the Board of Directors of the company in its meeting held on Thursday, July 26, 2012 at 11:00 a.m. at the Registered Office of the Company at Modern Motors House, Beaumont Road, Karachi, has recommended the following:

(i) Cash Dividend           Nil

(ii) Bonus Issue            Nil

(iii) Right Issue           Nil

The financial results of the company for the nine months period ended June 30, 2012 are annexed herewith.

Condensed Interim Profit and Loss Account (Un-Audited) for the Period Ended June 30, 2012

Period ended

Quarter ended

June 30, 2012

June 30, 2011

June 30, 2012

June 30, 2011

(Rupees in ‘000)

Turnover-net

1,421,745

2,425,701

422,328

1,199,880

Cost of sales

(1,235,809)

(2,034,738)

(361,546)

(223,830)

———

———

——-

———

Gross profit

185,938

390,965

80,782

223,030

Distribution cost

(5,343)

(3,818)

(2,224)

(1,743)

Administrative expenses

(54,129)

(62,300)

(19,804)

(18,849)

Other operating expenses

(2,305)

(15,528)

337

(10,960)

———

———

——-

———

(61,777)

(81,646)

(21,491)

(31,552)

Other operating income

4,917

3,518

1,279

130

———

———

——-

———

Operating profit

129,076

312,837

40,570

191,608

Finance cost

(104,562)

(108,971)

(46,615)

(44,413)

———

———

——-

———

24,614

203,888

(5,945)

147,195

Share of profit in an associate

96,211

41,045

62,745

11,877

———

———

——-

———

Profit before taxation

120,725

244,911

56,800

158,872

Taxation
Current

(16,643)

(27,173)

(4,675)

(6,677)

———

———

——-

———

Profit after taxation

104,082

217,739

62,126

152,185

———

———

——-

———

(Re-stated)

(Re-stated)

Earnings per share – basic (Rupees)

10.73

22.45

5.37

16.69

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: 111-354-111
Tel: (92-021) 35682565-67- 35682569-70
Fax: (92-021) 35682839- 35688036
E-mail: msm@gfg.com.pk