KASB Securities Limited’s Financial Results for the Second Quarter and Half Year Ended June 30, 2011

Karachi: We have to inform you that (the Board of Directors of KASB Securities Limited (KASBSL) in their meeting held on August 25, 2011 at the 11:00 am, at the 5th floor, Trade Centre, I.I .Chundrigar Road, Karachi has approved the financial results of the Company for the Second quarter and Half Year Ended June 30, 2011 and recommended a NIL payout.

The Unaudited financial results of the Company for the afore-said period are as follows:

 

Half year ended

Quarter ended

30 June

30 June

2011

2010

2011

2010

(Rupees in ‘000’)

Operating revenue99,665154,60745,24383,824
Gain on sale of investments – net26,90920,8393,5418,011
Dividend income 4,4336,2781,661962
Net unrealised loss on remeasurement of

Investments at fair value through profit or loss

(17,632)(962)(22,413)(13,774)
Other operating revenue26,70824,22713,83316,292
 ——-——-————
140,083204,98941,86595,315
Operating and administrative expenses(152,185)(145,454)(73,640)(73,159)
(Provision)/ reversal for doubtful debts (12,949)2,845(1,578) (17,830)
Impairment loss on available-fore-sale investments (22,241)(35,648)(22,241)(6,670)
 ——-——-————
Operating (loss) / profit(47,292)26,732(55,594)(7,344)
Finance cost (40,504)(35,968) (19,492)(18,069)
——-——-—— ——
(87,796) (9,236) (75,086) (25,413)
Other income13,5506,9198,8093,324
——- ——-—— ——
Loss before taxation(74,246)(2,317) (66,277) (22,089)
Taxation
Current(4,173) (10,820)(2,034)(6,143)
Deferred5811,654 269625
 ——- ——-————
(3,592)(9,166) (1,765)(5,518)
——-——-—— ——
Loss after taxation (77,838) (11,483)(68,042) (27,607)
——- ——-—— ——

(Rupees)

Loss per share basic and diluted (0.78) (0.11)(0.68)(0.28)

 

 

The Unaudited Consolidated financial results of the Company for the afore-said period are as follows:

 

Half year ended

Quarter ended

30 June

30 June

2011

2010

2011

2010

(Rupees in ‘000’)

Operating Revenue99,665154,60745,24383,824
Gain on sale of investments-net26,90920,8393,5418,011
Dividend income4,4336,2781,661962
Net unrealised loss on remeasurement of

Investments at fair value through profit or loss

 (17,632)(962)(22,413)(13,774)
Other operating revenue27,09124,22714,04116,292
——- ——-————
140,466204,98942,073 95,315
Operating and administrative expenses(153,193)(145,454)(73,110) (78,159)
(Provision) / reversal of provision for doubtful debts(12,949)2,845(1,578)(17,830)
Impairment loss on available-for-sale investments (22,241) (35,648) (22,241)(6,670)
 ——-——- —— ——
Operating (loss)/ profit(47,917)26,732 (54,856)(7,344)
Finance cost(40,504)(35,968) (19,492)(18,069)
 ——-——-————
(88,421) (9,236)(74,348)(25,413)
Other income13,550 6,919 8,809 3,324
——-——- ————
Loss before taxation (74,871)(2,317)(65,539)(22,089)
Taxation
Current(4,177)(l0,820) (2,036)(6, 143)
Deferred5811,654269625
——-——- ————
(3,596)(9,166)(1,767)(5,518)
——- ——-————
Loss after taxation(78,467) (11,486) (67,306)(27,607)
——- ——-  —— ——

(Rupees)

Loss per share-basic and diluted(0.78)(0.11) (0.67) (0.28)

 

For more information, contact:
KASB Securities Limited
5th Floor, Trade Centre,
I.I. Chundrigar Road,
Karachi-74200,
Pakistan.
UAN: +92 21 111 535 535
Fax: +92 21 3262 4635