The unaudited financial results of Engro Fertilizers Limited for the First Quarter ended March 31, 2010 are as follows. As this is a new company which started commercial operations on January 1, 2010, pursuant to the de-merger of the company from Engro Chemical Pakistan Limited (now Engro Corporation Limited) and the transfer to it of the fertilizer business, there is no comparison provided with 2009. The Company is a 100% owned subsidiary of Engro Corporation Limited (formerly Engro Chemical Pakistan Limited).

* (Amounts in thousand except for earnings per share)

Jan – Mar 2010
Net sales 4,619,953
Less: Cost of sales 2,488,841
Gross profit 2,131,112
Less: Selling and distribution expenses 416,721
Add: Other income 5,094
Less: Financial and other charges including WPP and WW funds 515,440
Profit before taxation 1,204,045
Less:  Provision for taxation
Profit after taxation 773,267
Earning per share-basic and diluted 77.33
Unappropriated loss brought forward 544
Profit available for appropriation 772,723

Andalib Alvi
General Manager – Legal & Company Secretary