Colony Sugar Mills Limited’s Declaration of Financial Results for the Half Year Ended March 31, 2011

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Karachi: We have to inform you that Board of Directors of the company declared following financial results for the half year ended March 31, 2011 in their meeting held on Saturday, May 28, 2011 at 11.30 a.m. at Ismail Aiwan-e-Science Building, 205-Ferozepur Road, Lahore:

	Half Year Ended		Second quarter ended
	March 31		March 31
	2011	2010	2011	2010
	Rupees in thousand
Sales – net	3,521,086	1,963,274	2,606,752	658,103
Cost of sales	3,095,283	1,752,607	2,374,089	645,375
	———	———	———	———
Gross Profit	425,803	210,667	232,663	12,728
Operatng expenses
Administrative and general expense	58,286	48,874	32,643	25,216
Distribution and marketing expense	79,114	36,244	34,500	26,155
	———	———	———	———
	137,400	85,118	67,143	51,371
	———	———	———	———
	288,403	125,549	165,520	(38,643)
Other operating income	5,063	3,372	4,998	1,010
	———	———	———	———
Operating profit/(loss)	293,466	128,921	170,518	(37,633)
	———	———	———	———
Finance Cost	219,419	201,030	116,478	100,826
Workers’profit participation fund	3,702	–	2,702	(3,318)
	———	———	———	———
	223,121	201,030	119,180	97,508
	———	———	———	———
Profit/(loss) before taxation	70,345	(72,109)	51,338	(135,141)
Provision for taxation	38,227	(9,471)	29,031	(17,100)
	———	———	———	———
Profit/(loss) for the period	32,118	(62,638)	22,307	(118,041)
	———	———	———	———
Earnings/(Loss) per share – basic
(Rupees)	0.32	(0.63)	0.23	(1.19)
	———	———	———	———

Directors have not recommended Cash dividend, Bonus/Right shares.

For more information, contact:

Abdul Mansoor Khan

Company Secretary

Colony Sugar Mills Limited

Ismali Aiwan-e-Science Building,

205-Ferezepur Road,

Lahcre-54600,

Pakistan

Tel: +9242 111-Colony

Fax: +9242 576-3246

E-mail: info@colonysugar.com