AsiaNet Pakistan 2011-09-29 12:40:31

Karachi: We have to inform you that the Board of Directors of Premier Financial Services (Private) Limited, the management company of First Equity Modaraba (FEM), in its meeting held today has approved the financial statements of First Equity Modaraba for the year ended June 30, 2011 with Nil Dividend.

The financial results of the Modaraba are annexed herewith.

The Board has also decided to hold the Twelfth Annual Review Meeting of First Equity Modaraba for the year ended June 30, 2011 on Tuesday, October 25, 2011 at 07.00 pm.

The Board has also decided to that the certificate of transfer hooks of the Modaraba will be closed from Friday, October 14, 2011 to Wednesday October 26, 2011 (other days inclusive).

Profit and Loss Account for the Year Ended June 30, 2011

 

2011

2010

Rupees

Rupees

Income17,888,38525,877,250
Expenditures
———-———-
Operating expenses(16,551,114)(22,135,667)
Bank Charges(16,565) (13,014)
 ———-———-
(16,567,679)(23,148,681)
———- ———-
Operating profit1,320,706 2,728,569
Deficit on revaluation of
investment(1,615,199)(6,699,100)
Other income534,828 3,379,491
———-———-
Profit / (Loss) before taxation240,335(591,040)
Taxation -current(60,084)(122,990)
———-———-
Profit / (Loss) for the year180,251 (714,030)
———-———-
Earnings per certificate – basic and diluted0.003(0.014)

 

For more information, contact:
First Equity Modaraba
B-1004, 10th Floor,
Lakson Square Building 3,
Sarwar Shaheed Road,
Karachi 74200, Pakistan
Tel: (92-21)5672815-8
Fax: (92-21) 5686116