Internship

Topics: Balance sheet, Generally Accepted Accounting Principles, Income statement Pages: 51 (10742 words) Published: August 27, 2013
contents
company information directors' report consolidated condensed interim balance sheet consolidated condensed interim profit and loss account consolidated condensed interim statement of comprehensive income consolidated condensed interim statement of cash flows consolidated condensed interim statement of changes in equity notes to the consolidated condensed interim financial information 2 4 6 7 8 9 10 11

condensed interim balance sheet condensed interim profit and loss account condensed interim statement of comprehensive income condensed interim statement of cash flows condensed interim statement of changes in equity notes to the condensed interim financial information

22 23 24 25 26 27

Third Quarter 2011 Accounts

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company information
Asad Umar Afnan Ahsan Ruhail Mohammed Isar Ahmed

Board of Directors

Chairman Chief Executive Officer Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director

A. F. Ferguson & Co. Chartered Accountants

Auditors

Shahzada Dawood Mujahid Hamid Muhammed Amin Ms. Spenta Kandawalla Abdul Samad Khan Zafar Ahmed Siddiqui

M/s. FAMCO Associates (Private) Limited First Floor, State Life Building 1-A, I.I. Chundrigar Road, Karachi - 74000

Share Registrar

Bankers

Imran Anwer

Chief Financial Officer & Company Secretary

Al-Baraka Islamic Bank Limited Allied Bank Limited Askari Bank Limited Bank Al-Falah Limited Bank Al-Habib Limited Bank of Punjab Burj Bank Limited Citibank N.A. Dubai Islamic Bank Pakistan Limited Faysal Bank Limited Habib Bank Limited HSBC Bank Middle East Limited MCB Bank Limited Meezan Bank Limited National Bank of Pakistan NIB Bank Limited Standard Chartered Bank (Pakistan) Limited United Bank Limited

Shahzada Dawood Ruhail Mohammed Abdul Samad Khan Zafar Ahmed Siddiqui

Members of Audit Committee

Chairman Member Member Member

The secretary of committee is Mazhar Hasnani, GM Internal Audit Department

6th Floor, The Harbor Front Building HC-3, Marine Drive, Block - 4, Clifton Karachi, Pakistan.

Registered Office

2

Third Quarter 2011 Accounts

CONSOLIDATED CONDENSED INTERIM FINANCIAL INFORMATION (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2011

Third Quarter 2011 Accounts

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directors’ report
Nine Months 2011 review for the Shareholders of Engro Foods Limited On behalf of the Board of Directors of Engro Foods Limited (a subsidiary of Engro Corporation Limited), we are pleased to present the consolidated condensed interim financial information of the Company for the nine months ended September 30, 2011.

ICE CREAM AND FROZEN DESSERTS SEGMENT

BUSINESS REVIEW DAIRY AND JUICES SEGMENT
Total sales of Dairy and Juice segment during the nine months of 2011 were Rs. 19.2 billion vs. Rs. 13.7 billion during the same period in 2010, growth of 40%. Profit after tax increased by 84% to Rs. 804 million from profit of Rs 436 million in the same period last year.

Omorè was launched in Karachi in the first quarter of 2011 in order to expand geographically and increase its market share. With 45% volumetric growth over the corresponding period last year, revenue grew by 64% to Rs 2.2 billion during the nine months of 2011. As per plan, Ice Cream segment incurred a loss during the nine months primarily due to continued investment in its brands and the cold chain infrastructure. The loss after tax was Rs. 285 million during the nine months of 2011 as compared to Rs 293 million during the same period last year.

Dairy:

DAIRY FARM SEGMENT
During the nine months of 2011, Dairy Farm produced 13,223 liters of milk per day. At September 30, 2011, Dairy Farm herd was 2,615 animals (December 2010: 2,513). Loss after tax stood at Rs. 87 million vs. Rs. 69 million of prior period primarily due to lower yield than international benchmark and less utilization of farm housing...
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