Shakarganj Mills Limited’s financial results for the 3rd quarter and nine months period ended 30 June 2012

Karachi, July 19, 2012 (PPI-OT): We are pleased to inform you that the Board of Directors of Shakarganj Mills Limited (SGML) in their meeting held on 19 July 2012 at Faisalabad have considered and approved the financial results of Shakarganj Mills Limited for the 3rd Quarter and Nine Months period ended 30 June 2012 and the Board of Directors recommended the following:

(i) Cash Dividend

Nil

(ii) Bonus Shares

Nil

(iii) Right Shares

Nil

(iv) Any Other Entitlement/Corporate Action

Nil

(v) Any Other Price-Sensitive Information

Nil

The financial results of the Company are attached herewith.

Condensed Interim Profit and Loss Account for the Quarter and Nine Months Ended 30 June 2012 (Un-Audited)

Quarter ended

Nine months ended

June

June

June

June

30, 2012

30, 2011

30, 2012

30, 2011

Note

(Rupees in thousand)

Represented

Represented

Continuing Operations:
Sales

13.1

3,658,845

2,301,107

10,972,552

10,278,440

Cost of sales

13.2

(3,511,224)

(1,991,179)

(9,596,373)

(9,183,382)

———

———

———-

———-

Gross profit

147,621

309,928

1,376,179

1,095,058

Administrative expenses

(78,002)

(58,129)

(238,839)

(217,583)

Distribution and selling costs

(64,638)

(75,275)

(233,073)

(162,303)

Other operating expenses

(17,936)

(8,168)

(74,414)

(28,605)

Other operating income

21,224

46,659

84,342

186,074

———

———

———-

———-

Profit from operations

8,269

215,015

916,195

872,641

Finance cost

(214,495)

(273,420)

(616,486)

(717,948)

Share of income from associates

72,830

15,726

122,793

53,874

———

———

———-

———-

Profit / (loss) before taxation

(133,396)

(42,679)

422,502

208,567

Taxation
- Company

(36,598)

(10,930)

(109,415)

(90,596)

- Associates

(4,192)

(3,973)

(16,356)

(16,284)

———

———

———-

———-

(40,790)

(14,903)

(125,771)

(106,880)

———

———

———-

———-

Profit / (loss) for the period from continuing operations

(174,186)

(57,582)

296,731

101,686

———

———

———-

———-

Discontinued Operations:
Profit for the period from
discontinued operations

12

-

8,482

-

143,838

———

———

———-

———-

Profit / (loss) for the period

(174,186)

(49,100)

296,731

245,524

———

———

———-

———-

Earnings/ (loss) per share from continuing
and discontinued operations
- From continuing operations

Rupees

14

(2.51)

(0.83)

4.27

1.46

- From discontinued operations                    Rupees

14

-

0.12

-

2.07

———

———

———-

———-

- From profit/ (loss) for the period

Rupees

(2.51)

(0.71)

4.27

3.53

———

———

———-

———-

Diluted earnings per share
- From continuing operations

Rupees

14

(2.51)

(0.83)

4.23

1.46

- From discontinued operations

Rupees

14

-

0.12

-

2.07

———

———

———-

———-

- From profit/ (loss) for the period

Rupees

(2.51)

(0.71)

4.23

3.53

The annexed notes 1 to 18 form an integral part of this condensed interim financial information.

For more information, Contact:
Asif Ali
Company Secretary
Shakarganj Mills Limited
12th floor, Sidco Avenue Center,
264-R.A. Lines,
Karachi, Pakistan
Tel: (021) 3568 8149
Fax: (021) 3568 0476
URL: http://www.shakarganj.com.pk