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October 28, 2010.

The General Manager


Karachi Stock Exchange (Guarantee) Ltd.
Stock Exchange Building
Stock Exchange Road
Karachi.
Fax: 111-573-329

The Secretary
Lahore Stock Exchange (Guarantee) Ltd.
19, Khayabane Aiwane Iqbal
Lahore-54000
Fax: (042) 111-441-441

The Secretary
Islamabad Stock Exchange (Guarantee) Ltd.
Stock Exchange Building
Blue Area
Islamabad
Fax: (051) 111-473-329

FINANCIAL RESULTS FOR THE 3RD QUARTER AND NINE MONTHS ENDED
SEPTEMBER 30, 2010 - CONSOLIDATED AND STAND ALONE

Dear Sir,

We have to inform you that the Board of Directors of our Company, in their meeting held
on Thursday, October 28, 2010 recommended an interim Cash Dividend @ Rs.2 per share
i.e. 20%.

The unaudited consolidated financial results of the Company for the Third Quarter and
Nine Months ended September 30, 2010 are as follows:

1
(Amounts in thousand except for earnings per share)`
July-Sep July-Sep Jan-Sep Jan-Sep
2010 2009 2010 2009
------------------- Rupees -------------------
Net sales 19,844,590 17,664,617 53,569,116 40,560,569
Less: Cost of sales 15,723,392 13,573,989 40,164,833 31,431,175
Gross profit 4,121,198 4,090,628 13,404,283 9,129,394

Less: Selling and distribution expenses 1,998,623 1,516,150 5,727,551 4,325,481

2,122,575 2,574,478 7,676,732 4,803,913


Add: Other income 245,269 168,682 861,385 395,100
Less: Financial and other charges including
WPP and WW funds 1,730,805 755,647 4,175,536 2,018,374
137,787 122,528 396,671 317,272
Add: Share of income from joint venture

Profit before taxation 774,826 2,110,041 4,759,252 3,497,911


Less: Provision for taxation
Current (121,975) 237,636 1,036,596 394,893
Deferred 35,541 245,360 (335,813) 453,792
Profit after taxation 861,260 1,627,045 4,058,469 2,649,226

Less: Profit / (loss) attributable to minority


Interest (134,546) (22,474) (334,891) (55,452)

Profit attributable to equity holders of


Holding Company 995,806 1,649,519 4,393,360 2,704,678
(Restated) (Restated)
Earnings per share-basic and diluted 3.04 5.03 13.41 8.93
Add: Unappropriated profit brought
forward 10,823,026 6,827,531 8,387,520 6,198,004
Less: Final Dividend 2009 @ Rs. 2 per
share (2008: Rs. 2 per share) paid
- - 595,885 425,632
during the quarter
Less: Issue of 1 bonus share for every 10
shares held issued during the
- - 297,943 -
quarter
Less: Transfer to maintenance reserve 51,304 - 119,710 -
Less: Interim Dividend 2010 @ Rs. 2 per 655,473 595,885 655,473 595,885
share (2009: Rs. 2 per share) paid
during the quarter
Add: Vested options lapsed 279 - 465 -

Profit available for appropriation 11,112,334 7,881,165 11,112,334 7,881,165

2
The stand alone financial results of the Company for the third quarter and nine months
ended September 30, 2010 are as follows:

(Amounts in thousand except for earnings per share)


July-Sep July-Sep Jan-Sep Jan-Sep
2010 2009 2010 2009
------------------- Rupees -------------------
Net sales - 10,142,656 - 20,850,210
Less: Cost of sales - 8,191,819 - 15,951,610
Gross profit - 1,950,837 - 4,898,600
Less: Selling and distribution expenses - 563,159 - 1,314,213
- 1,387,678 - 3,584,387
Add: Dividend and royalty income 1,079,832 867,500 1,387,571 1,085,000
Less: Administrative expenses 82,546 - 162,936 -
Add: Other operating income 49,037 33,987 300,613 73,661
Less: Financial and other operating
charges including WPP and 21,845 342,426 34,061 1,246,944
WW funds
Profit before taxation 1,024,478 1,946,739 1,491,187 3,496,104
Less: Provision for taxation
Current (785) 57,463 81,049 126,751
Deferred 20,969 333,411 20,228 769,910
Profit after taxation 1,004,294 1,555,865 1,389,910 2,599,443
(Restated) (Restated)
Earnings per share-basic and diluted 3.06 4.75 4.24 8.58
Add: Unappropriated profit brought 8,742,760 7,529,070 9,250,972 6,911,124
forward
Less: Final Dividend 2009 @ Rs. 2 per - - 595,885 425,632
share (2008: Rs. 2 per share)
paid during the first half
Less: Issue of 1 bonus share for every - - 297,943 -
10 shares held issued during the
quarter
Less: Interim Dividend 2010 @ Rs. 2 655,473 595,885 655,473 595,885
per share (2009: Rs. 2 per
share) paid during the quarter
Profit available for appropriation 9,091,581 8,489,050 9,091,581 8,489,050

3
The Interim Dividend will be paid to the shareholders whose names appear on the Register of
Members on Tuesday, December 7, 2010.

The Share Transfer Books of the Company will be closed from Tuesday, December 7, 2010 to
Tuesday December 21, 2010 (both days inclusive). Transfers received in order at the office of
our Registrars, M/s. FAMCO ASSOCIATES (PVT) LIMITED, State Life Building No. 1-A, 1st
Floor, Wallace Road, Off I.I. Chundrigar Road, Karachi-74000 upto the close of business (5:00
p.m.) on Monday, December 6, 2010 will be treated in time for the purpose of payment of Interim
Dividend to the transferees.

The Directors Review to the shareholders is also attached hereto.

Very truly yours

ANDALIB ALAVI
General Manager – Legal & Company Secretary