Pioneer Cement Limited’s 1st quarterly financial results for the period ended 30 September, 2012

Karachi, November 07, 2012 (PPI-OT): We have to inform you that the Board of Directors of the Company in their meeting held at Lahore on 07 November, 2012 recommended the following:

(i) Cash Dividend                                      Nil

(ii) Bonus Issue                                       Nil

(iii) Right Shares                                     Nil

(iv) Any Other Entitlement/ Corporate Action           Nil

(v) Any Other Price Sensitive Information              Nil

The financial results of the Company are attached.

We will be sending you required number of copies of printed accounts for distribution amongst the members of your stock exchange.

Condensed Interim Profit and Loss Account for the Quarter Ended September 30, 2012 Un-audited)

September 30,

September 30,

2012

2011

Note

Rupees in ’000′

Gross turnover

1,967,824

1,680,525

Excise duty

89,482

112,074

Sales tax

236,242

208,071

Income tax on cement sales U/S 153-A

8,559

-

Commission

14,787

12,374

———

———

349,070

332,519

———

———

Net turnover

1,618,754

1,348,006

Cost of sales

13

1,210,374

1,106,326

———

———

Gross profit

408,380

241,680

Distribution Cost

18,027

10,526

Administrative expenses

14,395

13,162

Other operating income

(3,853)

(1,190)

Other operating expenses

19,626

2,043

———

———

48,195

24,541

———

———

360,185

217,139

Finance cost

35,804

94,167

Exchange loss

39,564

84,230

———

———

95,368

178,397

———

———

Profit before taxation

264,817

38,742

Taxation-net

22,502

24,803

———

———

Profit after taxation

242,315

13,939

———

———

(Rupees)

(Rupees)

Basic and diluted earnings per share

14

1.07

0.06

The accounting policies and explanatory notes form an integral part of these financial statements.

For more information, contact:
Syed Anwar Ali
Company Secretary
Pioneer Cement Limited
66- Garden Block,
New Garden Town, Lahore
Tel: 042-33831462-63
Fax: 042-35831462
Website: www.poineercement.com
Email: Shares@pioneercement.com