Dewan Farooque Motors Limited’s financial results for the first quarter ended September 30, 2012

Karachi, October 31, 2012 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on October 30, 2012 at 5:30 p.m. at Karachi, Pakistan, recommended the following:

(i) Cash Dividend Nil

And/ Or

(ii) Bonus Shares Nil

And/ Or

(iii) Right Shares Nil

And/ Or

(iv) Any Other Entitlement/Corporate Action Nil

And/ Or

(v) Any Other Price-Sensitive Information  Nil

The un-audited financial results of the Company for the First Quarter ended September 30, 2012 are as follows:

September 30,

September 30,

2012

2011

Unaudited

(Rupees in ‘000)

Gross Sales

106

321

Sales tax

15

44

——

——

Net Sales

91

277

Cost of sales

36,054

49,335

——

——

Gross (Loss)

(35,963)

(49,058)

Distribution expenses

10,706

12,220

Administrative and general expenses

9,346

22,229

——

——

20,052

34,449

——

——

Operating (Loss)

(56,015)

(83,507)

Other Income

34,308

38,017

——

——

(21,707)

(45,490)

Finance cost

12

169

——

——

(Loss) before Taxation

(21,719)

(45,659)

Taxation

-

3

——

——

Net (Loss) for the Period

(21,719)

(45,662)

——

——

Basic (Loss) per share (Rupee)

(0.20)

(0.42)

For more information, contact:
Haroon Iqbal
Director
Dewan Farooque Motors Limited
7TH Floor, Block-A,
Finance & Trade Centre (FTC),
Shahrah-e-Faisal, Karachi, Pakistan
UAN: (92-21) 111-364-111
Fax: (92-21) 5630860,
Web: www.dewangroup.com.pk