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Mirpurkhas Sugar Mills Limited’s financial results for the year ended September 30, 2011

Karachi: We have to inform you that the Board of Directors of the company in its meeting held on Thursday, December 15, 2011 at 10:30 a.m. at the Registered Office of the Company at Modern Motors House, Beaumont Road, Karachi, has recommended the fo11owing:

(i) Cash Dividend :   Cash Dividend at Re. 1/- per share i.e. 10%

(ii) Bonus Shares :   Issuance of Bonus Shares in proportion of 15 shares for every 100 shares held i.e. 15%

(iii) Right Shares:   Nil

The financial results of the company for the year ended September 30, 2011 are annexed herewith. The auditors’ certificate in respect of bonus shares will follow shortly.

The Annual General Meeting of the Company will be held on Tuesday, January 31, 2012 at 3:00 p.m. at the Registered Office of the Company at Modern Motors House, Beaumont Road, Karachi.

The share transfer books of the Company will be closed from Tuesday, January 17, 2012 to Tuesday. January 31, 2012 (both days inclusive) Transfers received at the office of the Share Registrar of the company M/s. Central Depository Company of Pakistan, CDC House, 99-B, Block ‘B’, S.M.C.H.S. Main Shahrah-e-Faisal, Karachi at the close of business on Monday, January 16, 2012 will be treated in time for the purpose of above entitlement.

Profit and Loss Account for the Year Ended September 30, 2011

 

2011

2010

(Rupees ‘000’)

Turnover – net  2,739,671 2,823,671
Cost of sales (2,375,297)  (2,477,780)
——— ———
Gross profit 364,374 345,891
Distribution cost (5,940)  (4,985)
Administrative expenses   (79,833) (79,108)
Other operating expenses (12,806)  (11,854)
 ———  ———
 (98,579) (95,947)
Other operating income 4,983 2,074
——— ———
Operating profit 270,778  252,018
Finance cost  (145,310)  (103,958)
——— ———
 125,468  148,060
Share of profit in an associate  42,826 8,286
 ———  ———
Profit before taxation 168,294 156,346
Taxation
Current  (30,194)  (30,754)
Prior  (386)  –
Deferred  –  (41,313)
 ———  ———
 (30,580) (72,047)
 ——— ———
Profit after taxation 137,714 84,299
———   ———
(Restated)
Earnings per share – basic (Rupees)  16.33  10.00

 

For more information, contact:
Aslam Faruque
Chief Executive
Mirpurkhas Sugar Mills Limited
Modern Motors House, Beaumont Road,
P. O. Box 5379 Karachi-75530, Pakistan.
UAN: 111-354-111
Tel: (92-021) 35682565-67- 35682569-70
Fax: (92-021) 35682839- 35688036
E-mail: msm@gfg.com.pk

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