Jahangir Siddiqui and Company Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Company in theft meeting held on September 24, 2011 at 12:00 noon, at 6th, Floor, Faysal House, Shahra-e-Faisal, Karachi recommended the following:

Financial Results

The financial results of the Company are as follows:

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

 

2011

2010

(Rs. in ’000’)

Income
Return on investments410,466758,595
Gain on sale of investments – net 493,088 444,066
Income from long-term loans and fund placements51,1052,662
Other income 30,87683,521
Loss on revaluation of investments carried at fair value through profit or loss – net-(679,768)
——————
 985,535609,076
Expenditure
Operating and administrative expenses150,485 201,566
Finance cost528,591846,211
Impairment on investments – net1,584,3258,537,198
——————
2,263,4019,584,975
 ——————
Loss before taxation(1,277,866)(8,975,899)
Taxation2,6097,393
- Current(3,952)534
——— ———
- Prior(1,343)7,927
——————
Net Loss for the year(1,276,523)(8,983,826)
 ——— ———
Loss per share(Rupees)
Basic and diluted(1.67) (11.77)

 

 

Statement of Comprehensive Income for the Year ended June 30, 2011

 

2011

2010

(Rs. in ’000’)

Net Loss for the Year(1,276,523)(8,983,826)
 ——— ———
Other Comprehensive Income
Net gain on available for sale investments
Loss during the year(663,708)(1,296,744)
Reclassification adjustments included in the profit and loss account for:
- Disposal of investments – net(339,388)(235,716)
- Impairment on investments – net1,292,8812,128,307
 ——————
289,785595,847
——————
Total Comprehensive Loss for the Year(986,738) (8,387,979)

 

 

Annual General Meeting

The Annual General Meeting (AGM) of the Company will be held on October 27, 2011 at 12:45 p.m. at Regent Plaza Hotel and Convention Centre, Main Shahra-e-Faisal, Karachi.

Book Closure Dates

The Share Transfer Books of the Company for Ordinary shares shall remain closed from October 20, 2011 to October 26, 2011 (both days inclusive) for determining the entitlement of the shareholders to attend Annual General Meeting of the Company.

Physical transfers and deposit requests under Central Depository System received at the close of business on October 19, 2011 by the Company’s Registrar i.e. Technology Trade (Pvt.) Ltd. Dagia House, 241-C, Block -2, P.EC.H.S., Karachi will be treated as being in time for the purpose of entitlement to attend the Annual General Meeting.

For more information, contact:
Farah Qureshi
Company Secretary
Jahangir Siddiqui and Company Limited
6th Floor, Faysal House,
Shahra-e-Faisal
Karachi-75530, Pakistan
Web: www.js.com
UAN: +92 21 111 574 111
Ph: +92 21 3279 9556
Fax: + 92 21 3280 0090