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Otsuka

26-Feb-2019 Head Office: 30-B Sindhi Muslim Co-operative Housing Society



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Among other prohibitions in the Act a local governmental body may not require an employer to pay an employee a wage higher than the State minimum hourly wage or other fringe benefits regulate strike activity or regulate an employer's hours or scheduling of employees MCL 408 871 - 408 883 (repealed) (S B 170)

Otsuka

February 26, 2019

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi.

Sub.: Transmission ofHal{-vear Accounts (or the period ended December 31,2018

Dear Sir,

We have to inform you that the Half-year Accounts of the Compan yfor the period ended December 31, 2018 had been transmitted through PUCARS and is also available on our Company"s website: www.otsuka.pk You may please inform the TRE certificate holders of the Exchange accordingly.

Muhammad Amin Bashir

Company Secretary

Encl : A.A.

Otsuka Pakistan Ltd.

HeadOffice:30-B,SindhiMuslim Co-operative Housing Society,Karachi-74400,Pakistan. Phones: (+9221)3452 8651-54 Fax: (+9221)3454 9857 URLwww.otsuka.pk

Fac

tory:No.F/4-9, Hub Industrial Trading Estate,Distt.Lasbella,Balochistan,Pakistan.Phones: (+92853)302363,303218,303517,304395-97 Fax: (+92853)364057

OTSUKA

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Otsuka Pakistan Limited

Directors' Report

The Directors are pleased to present accounts of the Company for the half year ended December

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Business Review

Sales were depressed due to oversupply situation in the market and heavy discounts being offered by the competitors. The cost of sales have also increased by 5.65% resulting in a steep decline of the gross profit margins of 23% during the half year ended December B9:I(as( compared( to(BH.(in(the(same(period(last(year7( the(major(contributor(for( the(loss(was(the(devaluation( rs7(IE7FCI(million7( the(corresponding(period(last(year7(

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Mehtabuddin Feroz

Director

Karachi

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