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Thursday, January 14, 2010
Wednesday, January 13, 2010
KARACHI: The sugar companies, registered at the Karachi Stock Exchange, posted profits of 452 percent in the fourth quarter of last fiscal year.

According to a research report, local sugar mills recorded 126 percent gains during complete financial year, from October 2008 to September 2009.

It is important to note that during financial year 2008-09, Colony Sugar Mills registered highest profit of 638 percent while Mirza Sugar Mills recorded 411 percent gains. Others include Abbas Sugar Mills with 276 percent, Mirpur Khas Sugar Mills 236 percent and Mehran Sugar Mills 207 percent.

Over 100 percent hike in sugar prices is said to be the main reason behind this massive increase.

Report further says government’s decision of importing one million ton of sugar will further the gains of local sugar mills.
Posted by faraz at 2:22 AM
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