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Clover Pakistan Limited’s financial results for the half year ended 31 December 2012

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Karachi, February 21, 2013 (PPI-OT): We have to inform you that the Board of Directors of the Company in their meeting held on Thursday 21 February 2013 at 10:00 a.m. at Lakson Square, Building No.2, Sarwar Shaheed Road, Karachi considered and approved the un-audited financial statements of the Company for the half year ended 31 December 2012 duly reviewed by the auditors of the Company.

The financial results of the Company are as follows:

Half-Year Ended

Quarter Ended

December 31,

December 31,

December 31,

December 31,

2012

2011

2012

2011

Rs. in ‘000

Rs. in ‘000

Continuing Operations
Gross sales

20,580

13,972

10,185

6,619

Sales tax and special excise duly

(2,867)

(1,925)

(1,435)

(911)

Trade discount and allowances

(541)

(381)

(249)

(198)

——

——

——

——

Net sales

17,172

11,666

8,501

5,510

Cost of sales

(11,238)

(7,541)

(5,555)

(3,570)

——

——

——

——

Gross profit

5,934

4,125

2,946

1,940

Distribution and marketing expenses

(5,623)

(4,325)

(2,817)

(2,154)

Administrative expenses

(11,549)

(10,334)

(4,839)

(4,710)

Other operating expenses

(214)

(15)

(166)

986

Other operating income

9,144

5,156

5,908

3,660

——

——

——

——

Operating (loss) / profit

(2,308)

(6,394)

1,032

(270)

Finance costs

(94)

(67)

(29)

(46)

(Loss) / profit for the period for continuing
operations before taxation

(2,402)

(5,461)

1,003

(316)

Taxation

(3,220)

(50)

(2,695)

43

——

——

——

——

(Loss) / profit for the period from continuing
operations after taxation

(5,622)

(5,511)

(1,692)

(273)

Discontinuing Operations
Loss for the period from discontinuing
operations after taxation

(5,882)

(8,772)

(4,887)

(22,807)

——

——

——

——

Loss for the period after taxation

(11,504)

(14,772)

(6,679)

(23,080)

——

——

——

——

(Rupees)

Loss per share from continuing
operations- basic and diluted

(0.60)

(0.58)

(0.17)

(0.03)

Loss per share from discontinuing operations-
basic and diluted

(0.62)

(0.93)

(0.51)

(2.42)

——

——

——

——

Loss per share – basic and diluted

(1.21)

(1.51)

(0.68)

(2.45)

For more information, contact:
Tasleemuddin A. Batlay
Director
Clover Pakistan Limited
Lakson Square BLDG. No.2,
Sarwar Shaheed Road,
Karachi- 74200, Pakistan.
Phone: 92-21-3569 8000,
Fax: 92-21-3568 5489, 3568 4712, 3568 3410
E-mail: clover@clover.com.pk

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