Home / Financial Results / Sindh Abadgar’s Sugar Mills Limited’s financial results for the year ended 30th September, 2011

Sindh Abadgar’s Sugar Mills Limited’s financial results for the year ended 30th September, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Saturday, the 24th December, 2011 at 12:00 noon at its registered office 209, 2nd Floor, Progressive Plaza, Beaumont Road, Karachi, recommended the following:

(I) Cash Dividend

A Final Cash Dividend for the year ended 30th September, 2011 at Rs. Nil per Share i.e. Nil %. This is in addition to interim Dividend(s) already paid at Rs. Nil per Share i.e. Nil %.

And/ Or

 

(II) Bonus Shares

It has been recommended by the Board of Directors to issue Bonus Shares in the proportion of Nil share(s) for every Nil share(s) held i.e. Nil %. This is in addition to the interim Bonus Shares already issued @ Nil %.

And/ Or

(III) Right Shares

The Board has recommended to issue Nil % Right Shares at par/at a discount/premium of Rs. Nil per share proportion of Nil share(s) for every be/will not be applicable on Bonus Shares as declared above.

And/ Or

(IV) Any Other Entitlement/Corporation Action

And/ Or

(V) Any Other Price – Sensitive Information

The financial results of the Company are as follows:

 

2011

2010

Rupees

Rupees

Sales net 1,469,470,810 1,697,436,040
Cost of goods sold (1,306,107,686) (1,566,046,730)
 ————- ————-
Gross profit 163,363,124 131,389,310
Operating expenses
Distribution (2,202,061) (1,657,528)
Administrative (60,258,479)  (56,235,393)
————- ————-
 (62,460,560) (57,892,921)
————- ————-
100,902,564 73,496,389
Other Charges  –
————- ————-
Operating Profit/(Loss) 100,902,564  73,496,389
Financial cost (45,246,784)  (49,850,410)
 ————- ————-
55,655,780  23,645,979
Other income / reversals / provisions 17,007,476 6,566,842
Provision for WWPF (574,044)
Provision for WPPF (3,633,163) (1,510,641)
 ————- ————-
Profit/(Loss) before taxation 69,030,093 28,128,136
Taxation
Current (17,347,090) (6,431,917)
  ————- ————-
Profit/(Loss) after taxation 51,656,003 21,696,219
Accumulated loss brought forward (96,043,050)  (170,903,837)
————- ————-
 (44,387,047)  (149,207,618)
Appropriation
Dividend paid for year 2010  (10,425,000)
Surplus on revaluation of property, plant and equipment 47,924,778 53,164,568
————- ————-
Accumulated Profit / (loss) carried forward  (6,887,269) (96,043,050)
 ————- ————-
Profit / (Loss) per share 4.96  2.08

 

The Annual General Meeting of the Company will be held on Tuesday, the 31st January, 2012 at 04:00 p.m. at the H.A.H. Muslim Gymkhana, Aiwan-e-Saddar Road, Karachi – 75600.

Accordingly the Share Transfer Books of the Company will remain closed from 17th January, 2012 to 31st  January, 2012 (both days inclusive). Transfers received by M/s. Gangjees Registrar Services (Pvt) Limited, 516, Clifton Centre, Khayaban-e-Roomi, Kehkashan, Block – 5, Clifton, Karachi at the close of business hours of 16th January, 2012 will be treated in time.

We will send you 300 copies of printed accounts for distribution amongst the members of the Exchange in due course of time.

For more information, contact:
Deoo Mal Essarani
Chairman/ Chief Executive
Sindh Abadgar’s Sugar Mills Limited
209, 2nd floor, progressive Plaza,
Beaumont Road, Karachi
Tel: 35638212-13
Fax: (92-21) 35638219
E-mail: sasm@unitedgroup.org.pk

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