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Pakistan Tobacco Company Limited’s financial results for the half year ended 30th June, 2013

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Karachi, August 15, 2013 (PPI-OT): We have to inform you that the Board of Directors of our Company in their meeting held on 15th August, 2013 at 02:00 pm at Company’s Head Office in Islamabad recommended the following:

Cash Dividend

2nd Interim Dividend for the financial year ending 31st December, 2013 at Rupees Two per share i.e. 20%. This is in addition to 1st Interim Dividend already paid at Rs. 2.00 per share i.e. 20%.

The financial results of the Company are as follows:

                                                                                                          Rs '000
                                                   Quarter ended                         Half Year ended
                                         June 30, 2013      June 30, 2012        June 30, 2013      June 30, 2012

Gross turnover                            24,543,341          20,857,820           46,966,933         38,562,957
Excise duties                            (12,556,036)        (10,713,908)         (24,027,042)       (19,832,728)
Sales tax                                 (3,507,948)         (2,980,799)          (6,714,227)        (5,509,972)
                                          ----------          ----------           ----------         ----------
Net turnover                               8,479,357           7,163,413           16,225,664         13,220,257
                                          ----------          ----------           ----------         ----------
Cost of sales                             (5,694,552)         (5,069,625)         (10,721,520)        (9,266,417)
                                          ----------          ----------           ----------         ----------
Gross profit                               2,784,805           2,093,487            5,504,144          3,953,840
                                          ----------          ----------           ----------         ----------
Selling and distribution expenses           (976,954)           (823,023)          (1,574,447)        (1,720,023)
Administrative expenses                     (418,033)           (378,943)            (749,755)          (708,692)
Other operating expenses                    (118,212)           (805,429)            (254,749)          (856,245)
Other operating income                        84,629              21,822              105,614             30,407
                                          ----------          ----------           ----------         ----------
                                          (1,428,570)         (1,985,573)          (2,473,337)        (3,254,553)
                                          ----------          ----------           ----------         ----------
Operating profit                           1,356,235             107,914            3,030,807            699,287
                                          ----------          ----------           ----------         ----------
Finance income                                91,294              58,649              104,449             59,734
Finance cost                                  (8,996)             (9,362)             (23,812)           (50,234)
                                          ----------          ----------           ----------         ----------
Net finance income                            82,298              49,287               80,637              9,500
                                          ----------          ----------           ----------         ----------
Profit before income tax                   1,438,533             157,201            3,111,444            708,787
                                          ----------          ----------           ----------         ----------
Income tax expense-Current                  (478,543)            (26,007)          (1,092,762)          (262,037)
                  - Deferred                  43,237             (29,447)              72,183             14,640
                                          ----------          ----------           ----------         ----------
                                            (435,306)            (55,454)          (1,020,579)          (247,397)
                                          ----------          ----------           ----------         ----------
Profit for the period                      1,003,227             101,747            2,090,865            461,390
                                          ----------          ----------           ----------         ----------
Earnings per share (Rupees)                     3.93                0.40                 8.18               1.81
                                          ----------          ----------           ----------         ----------

The above entitlement will be paid to the shareholders, whose names will appear in the Register of Members on 12th September, 2013.

The Share Book Transfer Books of the Company will be closed from 13th September, 2013 to 19th September, 2013 (both days inclusive). Transfers received at the office of the Company’s Share Registrar, FAMCO Associates (Pvt) Ltd, State Life Building No.1-A, 1st Floor, I. I. Chundrigar Road, Karachi at the close of business on 12th September, 2013, will be treated in time for the purpose of above entitlement to the transferees.

We will be sending you required copies of printed accounts for distribution amongst members of the Exchange in due course of time.

For more information, contact:
Ayesha Rafique
Company Secretary
Pakistan Tobacco Company Limited
Silver Square, Plot No. 15,
F-11 Markaz, Islamabad
Tel: +92(51)2083200-01
Fax: +92(51)2224215-16
Web: www.ptc.com.pk

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