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Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Friday, May 27, 2011 at 05:00 p.m. at Karachi, recommended the following:
| (1) | Cash Dividend and/or | Nil |
| (2) | Bonus Shares and/or | Nil |
| (3) | Right Shares and/or | Nil |
| (4) | Any Other Entitlement/Corporate Action and/or | Nil |
| (5) | Any Other Price-Sensitive Information | Nil |
The Half Yearly, un-audited, condensed Interim Financial Statements of the Company for the period ended March 31, 2011, are as follows:
| Half Year Ended | Quarter Ended | |||
| Mar. 31, 2011 | Mar. 31, 2010 | Mar. 31, 2011 | Mar. 31, 2010 | |
| ———–(Rupees in ’000′)—— | —–(Rupees in ’000′)——– | |||
| Sales | 2,380,452 | 3,964,189 | 2,380,452 | 3,235,862 |
| Cost of Sales | (2,414,570) | (4,028,379) | (2,233,163) | (3,351,104) |
| ———– | ———– | ———– | ———– | |
| Gross (Loss)/ Profit | (34,118) | (64,190) | 147,289 | (115,242) |
| Administrative and General Expenses | (20,249) | (28,635) | (10,964) | (18,848) |
| Distribution and Selling Costs | (11,906) | (12,329) | (11,749) | (2,487) |
| Other Operating (Loss)/Income | 601 | 1,125 | 601 | 1,031 |
| ———– | ———– | ———– | ———– | |
| (Loss)/Profit from Operations | (65,672) | (104,029) | 125,177 | (135,546) |
| Finance Cost | (17,469) | (5,802) | (17,233) | (4,215) |
| Impairment Profit/(Loss) charged | 9,692 | (24,094) | (3,550) | 8,190 |
| ———– | ———– | ———– | ———– | |
| (Loss)/ Profit before Income Tax | (73,449) | (133,925) | 104,394 | (131,571) |
| Taxation | (4,224) | 57,717 | (31,630) | 59,748 |
| ———– | ———– | ———– | ———– | |
| Loss / Profit for the period (after Income Tax) | (77,673) | (76,208) | 72,764 | (71,823) |
| ———– | ———– | ———– | ———– | |
| Loss / Profit per Share – Basic | (2.13) | (2.09) | 1.99 | (1.97) |
| ———– | ———– | ———– | ———– | |
For more information, contact:
Muhammad Ilayas Abdul Sattar
Chief Financial Officer
Muhammad Hanif German
Manager Group Corporate Affairs
Dewan Sugar Mills Limited
Finance and Trade Centre (FTC),
7th Floor, Block-A,
Shahra-e-Faisal Karachi-Pakistan.
UAN: +9221 111-364-111,
Fax: +9221 5630860,
Web: www.dewangroup.com.pk