The Premier Sugar mills and Distillery Company Limited’s Financial Results for Half Year Ended March 31, 2011

Karachi:  We are pleased to inform you that the Board of Directors in the meeting held on Friday May 27, 2011 at 10.30 am. have approved the interim financial results of the Company for half year ended March 31, 2011.

The Financial results are as follows:

 For the 2nd QuarterCumulative
Jan – MarJan – MarOct – MarOct – Mar
2011201020112010
Rupees in thousand
Turnover43,82437,917392,509184,128
Less: sales tax and special excise duty9902,56514,89313,576
 —————–—————–
42,83435,352377,616170,552
Cost of sales168,37255,592517,331207,948
 —————–—————–
Gross loss(125,538)(20,240)(139,715)(37,396)
Distribution cost293173741352
Administrative expenses15,79914,22729,83929,810
Other operating expenses(322)(374)5305
 —————–—————–
15,77014,02630,58530,467
—————–—————–
(141,308)(34,266)(170,300)(67,863)
Other operating income37,546104,13571,697138,141
 —————–—————–
Operating (loss) /profit(103,762)69,869(98,603)70,278
Finance cost13,7503314,560100
 —————–—————–
(Loss)/ profit before taxation(117,512)69,836(113,163)70,178
Taxation    
Current(1,932)3191,447995
Deferred(45,625)5,965(38,893)5,965
 —————–—————–
(47,557)6,284(37,446)6,960
—————–—————–
(Loss)/ profit after taxation(69,955)63,552(75,717)63,218
Other comprehensive income0000
 —————–—————–
Total comprehensive (loss) / income for the period(69,955)63,552(75,717)63,218
 —————–—————–
(Loss)/ earnings per share(18.65)16.95(20.19)16.86
 —————–—————–

For more information, contact:

Mujahid Bashir

Company Secretary

The Premier Sugar mills and Distillery Company Limited

Kings’s Arcade, 20-A,

Markaz F-7, P.O.Box 1529,

Islamabad.

Tel: +9251 2650805-7

Fax: +9251 2651285-6