Noon Sugar Mills Limited’s third quarterly financial results for the period ended 30 June, 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held at Lahore on 28 July, 2011 recommended the following:

 

(1) Cash DividendNil.
(2) Bonus IssueNil.
(3) Right SharesNil
(4) Any Other Entitlement/ Corporate ActionNil.
(5) Any Other Price Sensitive InformationNil.

 

The financial results of the Company are attached.

Condensed Interim Profit and Loss Account (Un-Audited) for the Quarter and Nine Months Ended 30 June, 2011

 

For the 3rd Quarter

Nine months ended

Mar – Jun

Mar – Jun

Oct- Jun

Oct – Jun

2011

2010

2011

2010

Note

(Rupees in thousand)

Sales – Net623,015334,3722,259,8341,231,101
Cost of Sales544,963329,7811,936,4451,211,271
——-——-———-———-
Gross Profit/ (Loss)78,0524,591323,38919,830
Distribution and Marketing Cost17,3475,43942,52817,949
Administrative Expenses19,22316,12555,23552,125
Other Operating Expenses(759)2467,5501,266
Other Operating Income(2,402)(2,195)(6,833)(3,433)
——-——-———-———-
33,40919,61598,48087,907
——-——-———-———-
Profit/ (loss) from Operations44,643(15,024)224,909(48,077)
Finance Cost64,30934,566140,55883,410
——-——-———-———-
Profit/ (loss) before share of  Profit from an Associated Company and Taxation(19,666)(49,590)84,351(131,487)
Share of Profit From An
Associated Company – Net of taxation432-2,6444,802
——-——-———-———-
PROFIT ((LOSS) BEFORE TAXATION(19,234)(49,590)86,995(126,685)
Taxation106,1937,29222,59812,335
——-——-———-———-
Profit / (Loss) After Taxation(25,427)(56,882)64,397(139,020)
Other Comprehensive Income----
——-——-———-———-
Total Comprehensive Income/ (Loss) for the Period(25,427)(56,882)64,397(139,020)
——-——-———-———-
Rupees
Earnings / (Loss) Per Share(1.54)(3.44)3.90(8.42)

 

The annexed notes form an integral part of this condensed interim financial information.

The Chief Executive is out of Pakistan and in his absence these financial statements have been signed by two Directors as required under section 241(2) of the Companies Ordinance, 1984.

For more information, contact:
Syed Anwar Ali
Company Secretary
Noon Sugar Mills Limited
66-Garden Block, New Garden Town, Lahore
Tel: +9242 5831462-63
Fax: +9242 5831462
Website: www.noonsugar.com
Email: shares@noonsugar.com