Shahtaj Sugar Mills Limited’s Financial Results for the half year ended 31.03.2011

Karachi: We have to inform you that Board of Directors of our Company in their meeting held today, Friday the 27th May 2011 at 11.00 A.M. have not recommended any

cash dividend or any other benefit.

The financial results of the Company are as follows:

 Half year endedSecond Quarter ended
March 31March 31
2011201020112010
(Rupees in thousands)(Rupees in thousands)
Sales – net2,359,161,596,1031,816,9051,249,483
Cost of sales1,929,1401,561,6791,484,6991,264,295
 ————————————
Gross Profit (loss)430,02934,424332,206(14,812)
Distribution cost4,5753,8683,1972,836
Administrative expenses74,26963,40847,72939,926
Other operating expenses27,3084,80621,5201,759
Other operating income(10,316)(19,517)(4,313)(8,746)
 ————————————
95,83652,56568,13335,775
Operating profit / (loss)334,193(18,141)264,073(50,587)
Finance cost32,18826,25930,99125,749
 ————————————
302,006(44,400)233,082(76,336)
Share of profit in associates – net12,7994,52312,7994,523
 ————————————
Profit/ (loss) before taxation314,804(39,877)245,881(71,813)
Taxation104,3416,43080,216(1,102)
 ————————————
Net profit /(loss) for the period210,463(46,307)165,665(70,711)
 ————————————
Earnings per ordinary share -    
Basic arid Diluted (Rupees)17.52(3.86)13.79(5.89)
 ————————————

For more information, contact:

Jamil Ahmad Butt

Company Secretary

Shahtaj Sugar Mills Limited

19, Dockyard Road, West Wharf,

P.O. Box No. 4766,

Karachi – 74000,

Pakistan.

Tel: +9221 32313934-38

Fax: +9221 32310623

Email: jamilbutt@shahtaj.com