Pakarab Fertilizers Limited’s financial results for the half year ended June 30, 2012

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Karachi, August 28, 2012 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on August 25, 2012 at 11:00 a.m. at E-110, Khayaban-e-Jinnah, Lahore Cantt., recommended the following:

(i) Specie Dividend

It has been recommended by the Board of Directors to distribute 45,000,000 shares of Fatima Fertilizer Company Limited (FATIMA) to the shareholders of Pakarab Fertilizers Limited (PAFL) as second interim specie dividend in the ratio of 1:10 (1 shares of FATIMA for every 10 shares held of PFL). This is further to 45 million shares of Fatima Fertilizer Company Limited (FATIMA) distributed as first Interim Specie Dividend in the ratio of 1:10 (1 shares of FATIMA for every 10 shares held of Pakarab Fertilizers Limited).

(ii) Cash Dividend

An Interim Cash Dividend for the half year ended June 30, 2012 at Rs. Nil per share i.e. Nil%. This is in addition to interim Dividend already paid at Rs. Nil per share i.e. Nil %.

(iii) Bonus Shares

It has been recommended by the Board of Directors to issue Interim Bonus Shares in the proportion of Nil shares for every Nil shares held i.e. Nil %. This is in addition to the interim Bonus Shares already issued @ Nil %.

(iv) Right Shares

The Board has recommended to issue Nil % Right Shares at par/at a discount /premium of Rs. Nil per share in proportion of Nil share for every Nil share.

(v) Financial Results

The Financial Results of the Company for the half year ended June 30, 2012 are enclosed.

The above entitlement will be paid to shareholders whose names will appear in the Register of Members on September 17, 2012.

The Share Transfer Books of the Company will be closed from September 18, 2012 to September 24, 2012 (both days inclusive). Transfers received at the company’s registered office at the close of business on September 17, 2012 will be treated in time for the purpose of above entitlement to the transferees.

Condensed Interim Profit and Loss Account (Un-Audited) for the Quarter and Half Year Ended June 30, 2012

	Quarter ended		Half year ended
	June 30,	June 30,	June 30,	June 30,
	2012	2011	2012	2011
	(Rupees in thousand)
Sales	3,762,674	5,037,383	5,968,809	7,299,367
Cost of sales	(2,240,568)	(2,566,001)	(3,824,406)	(3,738,891)
	———	———	———	———
Gross profit	1,522,106	2,471,382	2,144,403	3,560,476
Administrative expenses	(362,780)	(248,529)	(742,616)	(449,745)
Selling and distribution expenses	(74,210)	(228,481)	(174,566)	(394,945)
	———	———	———	———
	1,085,116	1,994,372	1,227,221	2,715,786
Finance cost	(694,511)	(857,982)	(1,372,289)	(1,751,270)
Other operating expenses	(99,216)	(136,532)	(89,901)	(161,229)
	———	———	———	———
	291,389	999,858	(234,969)	803,287
Other operating income	707,621	523,840	1,050,373	894,989
Share of loss of associate	–	–	–	(17,612)
(Loss)/ gain on re-measurement of financial
assets at fair value through profit or loss	(18,730)	731,960	(17,130)	730,380
	———	———	———	———
Profit before taxation	980,280	2,255,658	798,274	2,411,014
Taxation	282,526	(655,842)	340,094	(707,364)
	———	———	———	———
Profit for the period	1,262,806	1,599,816	1,138,368	1,703,650
	———	———	———	———
Earnings per share in Rupees – basic and diluted	2.81	3.56	2.53	3.79

For more information, contact:
Pakarab Fertilizers Limited
E-110, Khayaban-e-Jinnah,
Lahore Cantt, Pakistan.
PABX: +92 42 111-FATIMA (111-328-462)
Fax: +92 42 36621389,
Web: www.fatima-group.com