The energy crisis is playing havoc especially in the

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The energy crisis is playing havoc especially in the Punjab. We continuously have to rely on furnace oil in the absence of sui gas and diesel to run our generators when there is no electricity. There seems to be no respite on this front in the near future, all indications are that the energy situation would worsen in the months ahead and add to one cost of production. However, inspite of a volatile trend in the market, we are pleased that our juice products are showing encouraging sales trends. During the period we have also achieved encouraging growth in export sales of our products. Our production facility in Karachi continued to meet the export requirements in the Middle East, Africa, USA and Europe and performed well during the year. We are optimistic that our products have the potential to sustain our growth momentum in the future. Our advertisement activities cost high and this trend would continue in the coming months due to market conditions. The business environment has become very competitive and our profits are affected by commodity inflation, however, operating profit increased from Rs. 371.206 million to Rs. 440.077 million. The Company added Rs. 613.602 million to the net sales, which grew 12.12%. Earnings per Share were Rs. 37.78. We made our humble contribution to the National Exchequer by paying a sum of Rs. 1.102 billion in the shape of Sales Tax, Excise Duty and Income Tax for the year ended 30 June 2013. Financial Results For the year ended 30 June 2013, total sales were Rs. 5.674 billion against Rs. 5.061 billion in the same period last year, registering an increase of 12.12%. The cost of sales was Rs. 3.964 billion against Rs. 3.603 billion last year. Therefore, the Company earned gross profit of Rs. 1.710 billion against Rs. 1.457 billion in the corresponding year last year. The distribution cost increased and it grew by 18.81% as compared to the last year. The distribution cost includes an advertisement and sales promotion expense of Rs. 433 million. We had to increase our publicity campaign to boost our sales due to stiff competition in the market. The finance cost was Rs. 45.75 million against Rs. 53.12 million last year. The decrease in finance cost was due to efficient use of borrowed capital. However, borrowings were made during the year to stock the seasonal fruits, pulps and packaging materials to fulfill the sales demands of our products. Net profit for the year was Rs. 249 million as compared to Rs. 207 million of the corresponding year of 2012 and earnings per share were Rs. 37.78 versus Rs. 31.42 (re-stated) in the last year. 2009 2010 2011 2012 2013 Earnings per share 0 5 10 15 20 25 30 35 40 Rupees 17.08 17.79 23.43 31.42 37.78 2009 2010 2011 2012 2013 Net Sales Rupees in thousand 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 2,728,709 3,528,134 4,221,827 5,060,898 5,674,500
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6 Appropriations The Company has earned an after tax profit of Rs. 249.321 million for the year under review. The Directors are pleased to recommend as follows: Rupees in thousand Profit after taxation 249,321 Unappropriated profits brought forward 232,088 Dividend @ Rs 9/- per share for the year ended 30 June 2012 (54,000) Transfer to general reserve (130,000) Transfer to reserve for issue of bonus shares for the year ended June 30, 2012 (6,000)
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