IRELAND BLYTH LIMITED

(Incorporated in the Republic of Mauritius) (File No. 2052)

Unaudited Profit Announcement for quarter ended 31 March 2010

Statement of comprehensive income (Abridged) THE GROUP Quarter ended 31.3.2010 Rs000 Revenue Profit from operations Share of profits less losses of associates Net finance costs Profit before taxation Taxation Profit for period / Total comprehensive income Profit attributable to :Owners of the parent Non-controlling interests 64,300 15,700 80,000 Earnings per share (Rs) Net assets per share (Rs) 0.90 39.04 THE GROUP Quarter ended 31.3.2010 Rs M Financial Services Logistics, Engineering & Commerce Retail Seafood & Marine Corporate services and others 292,400 1,221,410 784,000 561,090 44,970 2,903,870 31.3.2009 Rs M 270,400 1,095,340 713,450 559,600 46,310 2,685,100 68,790 13,740 82,530 0.96 49.67 2,903,870 171,660 9,760 ( 101,420 ) 80,000 80,000 31.3.2009 Rs000 2,685,100 140,580 At 1 January 2009 73,050 Total comprehensive income ( 131,100 ) At 31 March 2009 82,530 At 1 January 2010 Total comprehensive income

Statement of Changes in Equity (Abridged)

THE GROUP Non-

Owners of controlling the parent Rs000

3,479,179 68,790 3,547,969 2,724,917 64,300 2,789,217

Total equity Rs000

3,925,949 82,530 4,008,479 3,190,282 80,000 3,270,282

interests Rs000
446,770 13,740 460,510 465,365 15,700 481,065

82,530 At 31 March 2010

Comments Theinterimcondensedfinancialstatementsforthethreemonths ended31March2010areunauditedandhavebeenpreparedusing thesameaccountingpoliciesandmethodsofcomputationasthose adoptedinthestatutoryfinancialstatementsfortheyearended31 December2009. TurnoverfortheperiodstoodatRs2.9bn,representingan8% increaseonthecorrespondingquarterlastyear.Profitfrom operationsincreasedby22%toRs171.6million.Followingthe distributionofSRLsharesinDecember2009theshareofprofitfrom associatesisnotcomparabletolastyear'scorrespondingquarter. FinancecostsatRs101millioncontinuedtoimprovewithareduction of23%over2009.ProfitaftertaxwasRs80millionfortheperiod comparedtoRs83millionlastyear,ofwhichRs57millionwas attributabletoSRL. Prospects: Thegrouphaschangeditsaccountingyearfroma31Decembertoa 30Juneyearend.Auditedfinancialstatementswillbepreparedfor the6monthsperiodending30June2010.Withtheprevailing trends,resultsfortheperiodareexpectedtobecomparabletolast year. ByOrderoftheBoard S.P.Rey Secretary 7May2010
RegisteredOffice: IBLHouse Caudan PortLouis TransferOffice: MCBRegistry&SecuritiesLtd SirWilliamNewtonStreet PortLouis

Segmental Information

Revenue

THE GROUP Quarter ended 31.3.2010 Rs M Financial Services Logistics, Engineering & Commerce Retail Seafood & Marine Corporate services and others 40,290 76,920 23,000 59,410 ( 27,960 ) 171,660 31.3.2009 Rs M 41,110 43,930 18,760 60,850 ( 24,070 ) 140,580

Profit from Operations

Statement of financial position (Abridged)

THE GROUP As at 31.3.2010 Audited at 31.12.2009 Rs000

Assets Non-current assets Property, plant and equipment Intangible assets Investments Finance lease receivables

Rs000

4,392,130 488,400 1,170,130 801,275 6,851,935

4,386,076 488,628 1,151,566 807,140 6,833,410 5,881,240 12,714,650

Current Assets Total Assets Equity and Liabilities Equity attributable to owners of the parent Non-controlling interests Total equity Life assurance fund Non-current liabilities Current liabilities Total Equity and Liabilities Statement of cash flow (Abridged)

5,680,175 12,532,110

2,789,222 481,060 3,270,282 565,940 1,944,339 6,751,549 12,532,110

2,724,917 465,365 3,190,282 552,363 2,068,393 6,903,612 12,714,650

ThiscommuniquisissuedpursuanttoListingRule12.20and SecuritiesAct2005. TheBoardofDirectorsofIrelandBlythLimitedacceptsfull responsibilityfortheaccuracyoftheinformationcontainedinthis interimreport. Copiesofthisinterimreportareavailabletothepublic,freeof charge,attheCompany'sregisteredoffice,IBLHouse,Caudan,Port Louis. Thestatementofdirectandindirectinterestsofofficersofthe Companyrequiredunderrule8(2)(m)oftheSecurities(Disclosure ObligationsofReportingIssuers)Rules2007isavailableupon request,freeofcharge,fromtheSecretary,at5thfloor,IBLHouse, Caudan,PortLouis,Mauritius.

THE GROUP Quarter ended 31.3.2010 Rs000 31.3.2009 Rs000 119,290 ( 112,420 ) ( 142,190 ) ( 135,320 ) ( 2,198,800 ) ( 2,334,120 )

Net cash generated from operating activities Net cash used in investing activities Net cash used in financing activities Net increase/(decrease) in cash & cash equivalents Cash & cash equivalents at 1 January Net cash & cash equivalents at 31 March

175,620 ( 59,700 ) ( 198,250 ) ( 82,330 ) ( 1,723,390 ) ( 1,805,720 )