Sui Southern Gas Company Limited’s financial results for the year ended 30, June 2011

Karachi: This is to inform you that the Board ot Directors of the Company in their meeting held on 29 September 2011 at 10:30 a.m~ at SSGC Board Room, Karachi recommended the following

Bonus Issue

It has been recommended by the Board of Directors to issue Bonus shares in the proportion of one share for every 20 shares held i.e. 5%.

Cash Dividend

It has also been recommended by the Board of Directors to give a final cash dividend for the year ended 30 June 2011 at Rs. 2.50 per share i.e. 25%.

The financial results of the Company are attached as Annexure A”.

The Annual General Meeting of the Company will be held on 28 October 2011 at 10:30 a.m. in the Pearl Continental Hotel, Karachi.

The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on 21 October 2011.

The Share Transfer Books of the Company will be closed from 22 October 2011 to 28 October 2011 (both days inclusive). Transfers received at our Share Registrar, M/S. Central Depository Company of Pakistan Limited, CDC House, 99-B, Block “B” SMCHS, Main Shahrah-e-Faisal, Karachi at the close of business on 21 October 2011 will be treated in time for the purpose of above entitlement to the transferees.

Entitlement

Bonus Shares will be issued on the original paid up capital of Rs. 8,389,679 million.

Sui Southern Gas Company Limited Profit and Loss Account For the year ended June 30, 2011

 

2011

2010

Rupees in 000

Sales126,403,168127,613,530
Safes tax(16,000,749)(15,339,912)
————-————-
110,402,419112,273,618
Gas development Surcharge4,126,741(4,536,837)
————-————-
Net sales11,529,160107,736,781
Cost of sales(112,284,333)(104,936,801)
 ————-————-
Gross profit2,244,827 (2799,980)
Administrative and selling expenses(3,081,710) (2,448,711)
Other operating income (1,645,141)(752,037)
————-————-
 (4,726,851)(3,200,748)
 ————-————-
 (2,842,024)(400,768)
Other Operating income3,759,9073,789,522
 ————-————-
Operating Profit1,277,8833,388,754
Other non-operating income10,027,9148,640,553
Finance cost(5,786,122) (5,015,893)
————-————-
Profit before taxation5,519,6757,013,414
Taxation(795,287)(2,614,269)
————-————-
Profit for the year4,724,3884,399,145
————-————-
Rupees
Basic and diluted earnings per share5.63 5.24

 

For more information, contact:
Sui Southern Gas Company Limited
SSGC House, Sir Shah Suleman Road,
Gulshan-e-Iqbal,
P.O. Box 17989,
Karachi-75300,
Pakistan
Tel: 99021743-44
Fax: 92-21-99231702