Arif Habib Investments Limited’s financial results for the year ended 30th June, 2011
Karachi: In continuation of our letter # Fin-11-12/AMC/Sept-11 dated September 20, 2011, regarding adjournment of 92nd meeting of the Board of Director of the Company, we have to inform you that the Board of Directors of Arif Habib Investments Limited (AHI), in their meeting held at MCB House, Lahore on Thursday September 29, 2011 at 4:00 pm has approved the following interim distribution:
1) Cash Dividend
A final Cash Dividend for the year ended 30th June, 2011 at Rs. 1.5 per share i.e. 15%.This is in addition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil%.
(2) Bonus Share
It has been recommended by the Board of Directors to issue Bonus shares in the proportion of Nil share(s) for every Nil share(s) held i.e. Nil. This is in addition to the Interim Bonus Shares already issued @Nil%.
(3) Right Shares
The Board has recommended to issue Nil % Right Shares at par/at a discount/ premium of Rs. Nil per share in proportion of Nil share(s) for every Nil share(s). The entitlement of right shares being declared simultaneously will be/will not be applicable on Bonus Shares as declared above.
(4) Any Other Entitlement/Corporate Action Nil
(5) Any Other Price-Sensitive Information
Profit and Loss Account for the Year Ended June 30, 2011
|Management fee / investment advisory fee||237,227,299||203,737,763|
|Processing and other related income||56,674||78,740|
|Mark up on bank deposits||2,056,856||1,595,966|
|Gain on sale of investments||14,773,571||17,603,358|
|Unrealised gain on investments at fair value through profit or loss||28,675,708||19,138,644|
|Administrative and operating expenses||(143,118,925)||(110,844,729)|
|Management / investment advisory fee / processing|
|and other related income sharing||(49,949,199)||(23,173,640)|
|Profit before Taxation||90,716,313||108,943,518|
|Net Profit for the Year||71,634,948||78,929,572|
|Earnings per share – Basic and Diluted||1.97||2.19|
Statement of Comprehensive Income for the Year Ended June 30, 2011
|Profit after tax||71,634,948||78,929,572|
|Other comprehensive income|
|Unrealised deficit on revaluation of|
|Less: Related deferred tax||109,585||-|
|Transferred from surplus on revaluation|
of fixed assets on account of incremental depreciation
|Less: Related deferred tax||(156,583)||(24,106)|
|Total comprehensive income||70,967,835||78,980,329|
The Annual General Meeting of the Company will be held on 25th, October, 2011.
The Share Transfer Books of the Company will be closed from 18th October, 2011 to 25th October, 2011 (both days inclusive). Transfers received in order at the office of our Share Registrar M/s Noble Computer Services (Pvt.) Limited, Mezzanine Floor, House of Habib Building, (Siddiqsons Tower), 3- Jinnah Cooperative Housing Society, Main Shahrah-e-Faisal, Karachi – 75350 upto to the close of the business on 17th October, 2011, will be considered in time for the determination of entitlement of shareholders to cash dividend and to attend and vote at the meeting.
For more information, contact:
Arif Habib Investments Limited
8th Floor, Techno City Corporate Tower,
Hasrat Mohani Road, Karachi
Fax: (+92-21) 32276898