B.R.R. Guardian Modaraba’s financial results for the year ended June 30, 2011

Karachi: We are pleased to inform you that the Board o f Directors of B.R.R. Investment (Pvt) Limited Manager of B.R.R Guardian Modaraba (BRR) in their meeting held on Friday, September 30, 2011 at 11:00 a.m. at 1900-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi and recommended the following.

(i) CASH DIVIDEND

It has been approved by the Board of Directors to issue cash dividend of Re. 0.25 per Modaraba Certificate i.e. 2.50%.

(ii) BONUS ISSUES   NIL

AND/OR

(iii) RIGHT SHARES NIL

AND/OR

(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION – NIL

AND/OR

(V) ANY OTHER PRICE SENSITIVE INFORMATION  NIL

The Financial Results of BRRGM is enclosed.

The Annual Review Meeting of B.R.R Guardian Modaraba will be held on October 24, 2011 at 3:00 p.m. at 1900-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi.

The Certificate Transfer Books of the Modaraba will be closed from October 18, 2011 to October 24, 2110 both days inclusive) the Transfers received at the Registrar Office F.D. Registrar Services (SMC-Pvt) Ltd at 108, 11th Floor, Trade Centre I.I. Chundrigar Road, Karachi at the close of business on October 17, 2011 will be treated in time for the purpose of above entitlement to the transfers.

B.R.R. GUARDIAN MODARABA PROFiT AND LOSS ACCOUNT FOR THE YEAR ENDED JUNE 30,2011

 

JUNE 30,

2011

JUNE 30,

2010

NOTE

RUPEES

INCOME
Lease rentals116,554,310189,658,507
Income on musharaka and murabaha finance239,865,475 232,387,615
———– ———–
Return of investments2567,870,137101,677,248
Share of loss from associate-(11,242,846)
Markup on bank balances10,792,5439,539,932
Rental income2682,238,69389,087,427
Profit on disposal of fixed assets62,417,552-
Other  income2735,253,78320,311,123
 ———–———–
614,992,493631,419,004
EXPENSE
Amortisation on jeased assets53,301,501170,881,382
Impairment loss2833,378,720149,919,855
Operating expenses29109,303,354102,280,509
Financial Charge30354,882,931351,725,285
Provision against dooubtful rceivable – net319,193,71417,845,695
Loss on revalution of investmens – held for trading7,650,203 -
567,710,423792,852,735
 ———–———–
47,282,070(161,233,731)
Modaraba management company’s fee32 4,728,207-
Provision for Workers’ Welfare Fund33851,077-
———– ———–
Profit/(loss) before taxation41,702,786(161,233,731)
Taxation34--
———–———–
Profit/(loss) for the year41,402,86(161,233,731)
———– ———–
Earning/(loss) per certificate – basic and diluted350.53 (2.07)

 

The annexed notes from 1 to 45 form an intergral part of these financial statement

For more information, contact:
B.R.R. Guardian Modaraba
1500-A Saima Trade Towers
I.I Chundrigar Road,
Karachi- 74000
Tel: 92 (21) 111 329 663, 92 (21) 2271874-14
Fax: 92(21) 227191213
Email: brr@firstdawood.com