Faran Sugar Mills Limited’s Financial Results For the Half Year Ended 31st March 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting at registered office of the Company, 2nd Floor Bank House No- 1, Habib Square, MA. Jinnah Road. Karachi recommended the following:

1. Cash Dividend      Nil

2. Bonus Issue           Nil

3. Right Issue            Nil

The Financial Results of the Company are as follows.

 Half Year EndedQaurter Ended
Mar 2011Mar 2010Mar 2011Mar 2010
RupeesRupees
Sales – net1,947,190,4651,980,519,3181,038,939,9101,013,502,865
Cost of Sales(1,755,647,401)(1,848,658,277)(952,479,749)(1,001,693,565)
 ————–————–————–————–
Gross profit191,543,064131,861,04186,460,16111,809,300
Operating expenses    
Administrative expenses(28,345,831)(23,541,253)(15,094,241)(13,179,753)
Distribution cost(5,836,645)(3,717,376)(5,002,791)(2,397,911)
Other charges(12,100,496)(8,280,242)(4,709,764)(536,428)
Other income18,252,24518,657,27814,956,78211,850,287
 ————–————–————–————–
Operating profit163,512,337114,979,44876,610,1477,545,495
Share in profit of associate – net29,367,6678,510,05323,554,265(1,929,833)
 ————–————–————–————–
192,880,004123,489,501100,164,4125,615,662
Finance cost(21,301,805)(21,812,854)(20,147,626)(18,321,607)
 ————–————–————–————–
Profit bafore tax171,578,19910,576,54780,016,786(12,705,945)
Taxation(22,652,121)(32,570,508)2,027,525(5,953,685)
 ————–————–————–————–
Profit after tax148,926,07869,105,13982,044,311(18,659,630)
 ————–————–————–————–
Earnings per share – basic and diluted6.883.193.79(0.86)
 ————–————–————–————–

For more information, contact:

Muhammad Ayub

CFO and Company Secretary

Faran Sugar Mills Limited

3rd Floor, Bank House No.1 Habib Square,

M.A. Jinnah Road,

Karachi-74000

Pakistan

UAN: +9221 111-786-878

Fax: +9221 242-1010