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

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 EndedSecond quarter ended
March 31March 31
2011201020112010
Rupees in thousand
Sales – net3,521,0861,963,2742,606,752658,103
Cost of sales3,095,2831,752,6072,374,089645,375
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Gross Profit425,803210,667232,66312,728
Operatng expenses    
Administrative and general expense58,28648,87432,64325,216
Distribution and marketing expense79,11436,24434,50026,155
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137,40085,11867,14351,371
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288,403125,549165,520(38,643)
Other operating income5,0633,3724,9981,010
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Operating profit/(loss)293,466128,921170,518(37,633)
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Finance Cost219,419201,030116,478100,826
Workers’profit participation fund3,702-2,702(3,318)
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223,121201,030119,18097,508
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Profit/(loss) before taxation70,345(72,109)51,338(135,141)
Provision for taxation38,227(9,471)29,031(17,100)
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Profit/(loss) for the period32,118(62,638)22,307(118,041)
 ————————————
Earnings/(Loss) per share – basic    
(Rupees)0.32(0.63)0.23(1.19)
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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