Sui Southern Gas Company Limited’s financial results for the un-audited half yearly accounts for the period ended 31 December 2011

Karachi: We have to inform you that the Board of Directors of Sui Southern Gas Company Limited (SSGC) in their Meeting held on 29 February 2012 at 10:30 a.m. at SSGC Head Office Building, Gulshan-e-Iqbal, Karachi, recommended the following.

1. Cash Dividend               NIL

2. Bonus Issue                 NIL

3. Right Shares                NIL

The financial results as approved by the Board of Directors of the Company are enclosed for your record and publication.

For the Six Months period Ended December 31, 2011

 

Six months period ended

Three months period ended

December 31,

December 31,

December 31,

December 31

2011

2010

2011

2010

(Rupees in `000)

Sales 68,916,955 65,219,316 34,096,505 31,185,146
Sales tax (8,433,751) (8,267,505) (4,141,557) (3,850,129)
————- ———— ———— ————-
60,483,204 56,951,811 29,954,948 27,325,017
Gas development surcharge 2,364,780 1,413,826 1,979,591 2,516,948
————- ———— ———— ————-
Net sales 62,847,984 58,365,637 31,934,539 29,841,965
Cost of sales (61,224,772) (57,273,033) (31,046,996) (28,932,002)
————- ———— ———— ————-
Gross profit 1,623,212 1,092,604 887,543 909,963
Administrative and selling expenses (1,446,267) (1,514,876) (773,135) (897,041)
Other operating expenses (679,856) (716,426) (580,958) (606,185)
————- ———— ———— ————-
(2,126,123) (2,231,302) (1,354,091) (1,503,226)
————- ———— ———— ————-
(502,911) (1,138,698) (466,548) (593,263)
Other operating income 1,532,473 2,009,802 770,315 922,140
————- ———— ———— ————-
Operating profit 1,029,562 871,104 303,767 328,877
Other non-operating income 4,959,650 4,791,446 2,658,594 2,552,929
Finance cost (3,596,159) (2,410,395) (1,793,605) (1,343,145)
————- ———— ———— ————-
Profit before taxation 2,393,053 3,252,155 1,168,756 1,538,661
Taxation (853,590) (1,139,037) (425,086) (539,314)
————- ———— ———— ————-
Profit for the period 1,539,463 2,113,118 743,670 999,347
————- ———— ———— ————-

(Restated)

(Restated)

Basic/ diluted earnings per share (Rupees) 1.75 2.40 0.84 1.13

 

For more information, Contact:
Sui Southern Gas Company Limited
SSGC House, Sir Shah Suleman Road,
Gulshan-e-Iqbal, Karachi-75300, Pakistan
PABX Tel: 92-21-99021743-44
Fax: 92-21-99231702
Pipe Line Terminal,
University Road, Karachi-32