Dewan Sugar Mills Limited’s Financial Results for the Half Yearly, Un-audited, condensed interim Financial Statements of the Company for the period ended March, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on Friday, May 27, 2011 at 05:00 p.m. at Karachi, recommended the following:

(1)Cash Dividend and/orNil
(2)Bonus Shares and/orNil
(3)Right Shares and/orNil
(4)Any Other Entitlement/Corporate Action and/orNil
(5)Any Other Price-Sensitive InformationNil

The Half Yearly, un-audited, condensed Interim Financial Statements of the Company for the period ended March 31, 2011, are as follows:

 Half Year EndedQuarter Ended
Mar. 31, 2011Mar. 31, 2010Mar. 31, 2011Mar. 31, 2010
———–(Rupees in ’000′)———–(Rupees in ’000′)——–
Sales2,380,4523,964,1892,380,4523,235,862
Cost of Sales(2,414,570)(4,028,379)(2,233,163)(3,351,104)
 ———–———–———–———–
Gross (Loss)/ Profit(34,118)(64,190)147,289(115,242)
Administrative and General Expenses(20,249)(28,635)(10,964)(18,848)
Distribution and Selling Costs(11,906)(12,329)(11,749)(2,487)
Other Operating (Loss)/Income6011,1256011,031
 ———–———–———–———–
(Loss)/Profit from Operations(65,672)(104,029)125,177(135,546)
Finance Cost(17,469)(5,802)(17,233)(4,215)
Impairment Profit/(Loss) charged9,692(24,094)(3,550)8,190
 ———–———–———–———–
(Loss)/ Profit before Income Tax(73,449)(133,925)104,394(131,571)
Taxation(4,224)57,717(31,630)59,748
 ———–———–———–———–
Loss / Profit for the period (after Income Tax)(77,673)(76,208)72,764(71,823)
 ———–———–———–———–
Loss / Profit per Share – Basic(2.13)(2.09)1.99(1.97)
 ———–———–———–———–

For more information, contact:

Muhammad Ilayas Abdul Sattar

Chief Financial Officer

Muhammad Hanif German

Manager Group Corporate Affairs

Dewan Sugar Mills Limited

Finance and Trade Centre (FTC),

7th Floor, Block-A,

Shahra-e-Faisal Karachi-Pakistan.

UAN: +9221 111-364-111,

Fax: +9221 5630860,

Web: www.dewangroup.com.pk