The Premier Sugar Mills and Distillery Company Limited’s financial results for the half-year ended 31 March 2013

                                              For the 2nd Quarter            Cumulative
                                             Jan-Mar,     Jan-Mar,    Oct-Mar,        Oct-Mar,
                                              2013          2012        2013            2012
                                                           Rupees in thousand

Turnover-local                               184,624       356,241      965,285        972,773
 - export                                     15,905             0       22,343         13,140
                                             -------       -------      -------        -------
                                             200,529       356,241      987,628        985,913
Less: Sales Tax                               15,733        34,962       73,717         78,401
                                             -------       -------      -------        -------
                                             184,796       321,279      913,911        907,512
Cost of Sales                                270,447       338,698      935,255        959,809
                                             -------       -------      -------        -------
Gross Loss                                   (85,651)      (17,419)     (21,344)       (52,297)
Distribution Cost                              2,077         2,244        4,092          8,272
Administrative Expenses                       14,829        15,859       35,825         32,648
Other Operating Expenses                      (2,133)          109            0            231
                                             -------       -------      -------        -------
                                              14,733        18,212       39,917         41,351
                                             -------       -------      -------        -------
                                            (100,424)      (35,631)     (61,261)       (93,648)
Other Operating income                        36,430        37,699       59,752         57,964
                                             -------       -------      -------        -------
(Loss)/ Profit from Operations               (63,994)        2,068       (1,509)       (35,684)
Finance Cost                                  19,797        14,410       41,759         41,802
                                             -------       -------      -------        -------
Loss before Taxation                         (83,791)      (12,342)     (43,268)       (77,546)
Taxation
- Current                                     (6,661)        1,446          635          1,508
- Deferred                                    (6,751)      (10,840)       1,977        (36,523)
                                             -------       -------      -------        -------
                                             (13,412)       (9,394)       2,612        (35,015)
                                             -------       -------      -------        -------
Loss after Taxation                          (70,379)       (2,948)     (45,880)       (42,531)
Other Comprehensive Income                         0             0            0              0
                                             -------       -------      -------        -------
Total Comprehensive
Loss for the Period                          (70,379)       (2,948)     (45,880)       (42,531)
                                             -------       -------      -------        -------
                                                                   Rupees
Loss per Share                                (18.77)        (0.79)      (12.23)        (11.34)
                                             -------       -------      -------        -------