Noon Sugar Mills Limited’s Half Yearly Financial Results for the Period Ended 31 March 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held at Lahore on 30 May, 2011 recommended the following:

1. Cash DividendNil
2. Bonus IssueNil
3. Right SharesNil
4. Any Other Entitlement, Corporate ActionNil
5. Any Other Price Sensitive InformationNil

The financial results of the Company are attached.

Condensed Interim Profit And Loss Account (Un-Audited) for the Quarter and Half Year Ended 31, March 2011

 for the 2nd QuarterCumulative
 Jan – MarJan – MarOct – MarOct – Mar
 2011201020112010
NoteRupees in thousand
     
Sales – Net1,146,022532,1961,636,819896,729
Cost of Sales982,752556,3661,391,428881,490
 ———-———-———-———-
Gross Profit/ (Loss)136,270(24,170)245,33715,239
Distribution and Marketing Cost22,86111,09425,18112,510
Administrative Expenses21,30319,22036,01236,000
Other Operating Expenses4,4585118,3091,020
Other Operating Income(529)(530)(4,431)(1,238)
 ———-———-———-———-
48,09330,29565,07148,292
———-———-———-———-
Profit / (Loss) From Operations115,177(54,465)180,266(33,053)
Finance Cost51,97129,84276,24948,844
 ———-———-———-———-
Profit/ (Loss) Before Share of    
Profit from an Associated    
Company and Taxation63,206(84,307)104,017(81,897)
Associated Company – Net of taxation2,2124,8022,2124,802
 ———-———-———-———-
Profit / (Loss) Before Taxation65,418(79,505)106,229(77,095)
Taxation                                          1011,4973,22016,4055,043
 ———-———-———-———-
Profit / (loss) after taxation53,921(82,725)89,824(82,138)
Other comprehensive income0000
 ———-———-———-———-
Total comprehensive income/    
(loss) for the period53,921(82,725)89,824(82,138)
 ———-———-———-———-
Rupees   
Earnings / (Loss) Per Share3.26(5.01)5.44(4.97)
 ———-———-———-———-

For more information, contact:

Syed Anwer Ali

Company Secretary

Noon Sugar Mills Limited

86- Garden Block,

New Garden Town,

Lahore

Tel: +9242 5831462-53

Fax: +9242 5831462

Website: www.noonsugar.com

E-mail: shares@noonsugar.com