Noon Sugar Mills Limited’s Half Yearly Financial Results for the Period Ended 31 March 2011

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Karachi: We have to inform you that the Board of Directors of the Company in their meeting held at Lahore on 30 May, 2011 recommended the following:

1. Cash Dividend	Nil
2. Bonus Issue	Nil
3. Right Shares	Nil
4. Any Other Entitlement, Corporate Action	Nil
5. Any Other Price Sensitive Information	Nil

The financial results of the Company are attached.

Condensed Interim Profit And Loss Account (Un-Audited) for the Quarter and Half Year Ended 31, March 2011

	for the 2nd Quarter		Cumulative
	Jan – Mar	Jan – Mar	Oct – Mar	Oct – Mar
	2011	2010	2011	2010
Note	Rupees in thousand
Sales – Net	1,146,022	532,196	1,636,819	896,729
Cost of Sales	982,752	556,366	1,391,428	881,490
	———-	———-	———-	———-
Gross Profit/ (Loss)	136,270	(24,170)	245,337	15,239
Distribution and Marketing Cost	22,861	11,094	25,181	12,510
Administrative Expenses	21,303	19,220	36,012	36,000
Other Operating Expenses	4,458	511	8,309	1,020
Other Operating Income	(529)	(530)	(4,431)	(1,238)
	———-	———-	———-	———-
	48,093	30,295	65,071	48,292
	———-	———-	———-	———-
Profit / (Loss) From Operations	115,177	(54,465)	180,266	(33,053)
Finance Cost	51,971	29,842	76,249	48,844
	———-	———-	———-	———-
Profit/ (Loss) Before Share of
Profit from an Associated
Company and Taxation	63,206	(84,307)	104,017	(81,897)
Associated Company – Net of taxation	2,212	4,802	2,212	4,802
	———-	———-	———-	———-
Profit / (Loss) Before Taxation	65,418	(79,505)	106,229	(77,095)
Taxation                                          10	11,497	3,220	16,405	5,043
	———-	———-	———-	———-
Profit / (loss) after taxation	53,921	(82,725)	89,824	(82,138)
Other comprehensive income	0	0	0	0
	———-	———-	———-	———-
Total comprehensive income/
(loss) for the period	53,921	(82,725)	89,824	(82,138)
	———-	———-	———-	———-
	Rupees
Earnings / (Loss) Per Share	3.26	(5.01)	5.44	(4.97)
	———-	———-	———-	———-

For more information, contact:

Syed Anwer Ali

Company Secretary

Noon Sugar Mills Limited

86- Garden Block,

New Garden Town,

Lahore

Tel: +9242 5831462-53

Fax: +9242 5831462

Website: www.noonsugar.com

E-mail: shares@noonsugar.com