Pioneer Cement Limited’s financial results for the year ended 30 June, 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held at Karachi on 26 September, 2011 recommended the following:


(01)Cash DividendNil
(02) Bonus IssueNil
(03)Right SharesNil
(04)Any Other Entitlement/ Corporate ActionNil
(05)Any Other Price Sensitive InformationNil


The financial results of the Company are attached.

Profit and Loss Account for the Year Ended June 30, 2011





(Rupees in ’000′)

Gross turnover286,941,6225,329,223
——— ———
including special excise duty Rs 66,612,941/- (2010: Rs.32,230,209/-)]769,157789,420
Sales tax858,383636,834
——— ———
——— ———
Net turnover5,272,8883,872,834
Cost of sales294,531,1623,953,814
Gross profit / (loss)741,726 (60,980)
Distribution costs30150,576158,842
Administrative expenses3152,32178,835
Other operating income32(20,197)(20,285)
Other operating expenses 3316,132790
Operating profit / (loss)542,894(299,162)
Finance costs34357,916392,658
Exchange loss – net113,154167,499
Profit / (loss) before taxation71,824(859,319)
Taxation3548,826 268,394
Profit / (loss) for the year120,650(590,925)
Earnings (loss) per share – Basic and diluted360.54(2.87)


The annexed notes from 1 to 44 form an integral part of these financial statements.

For more information, contact:
Pioneer Cement Limited
66- Garden Block,
New Garden Town, Lahore
Tel: 042-33831462-63
Fax: 042-35831462