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Karachi, September 19, 2012 (PPI-OT): We have to inform you that the Board of Directors of Allied Engineering Management Company (Pvt.) Limited, the Management Company of Allied Rental Modaraba (ARM), in their meeting held on September 19, 2012 at 21/3 sector 22, Korangi Industrial Area, Karachi has approved the Accounts of the Modaraba for the year ended June 30, 2012.
The Financial results of the Modaraba for the year ended June 30, 2012 are as follow:
| 30 June 2012 | 30 June 2011 | |
| Rupees | Rupees | |
| Revenue |
1,543,918,953 |
1,033,739,293 |
| Operating Expenses |
(948,701,267) |
(654,912,296) |
| Gross Profit |
(595,217,229) |
378,826,997 |
| Administrative and Distribution Cost |
(58,867,229) |
(55,124,937) |
| Provision against potential ijarah losses |
(4,412,591) |
(4,338,208) |
| Finance Cost |
(46,442,461) |
(34,639,881) |
| Worker’s Welfare Fund |
(10,179,422) |
(5,765,870) |
| Other Income |
27,995,657 |
16,727,554 |
| Net profit before Management fee |
604,311,640 |
295,685,655 |
| Modaraba Management fee |
(4,987,917) |
(7,392,141) |
| Sindh Sales Tax on Management fee |
(532,044) |
– |
| Profit for the period |
498,791,679 |
288,293,514 |
| Earning per Certificates basic and diluted |
6.65 |
3.84 |
Cash Dividend
The Board recommended the payment of final Cash Dividend for the year ended June 30, 2012 at Rs. 3 per Certificate i.e. 30%.
Bonus Certificates
It has been recommended by the Board of Directors to issue Bonus Certificates in proportion of 1 Certificate for every 10 Certificates held i.e.10%.
Right Certificates
The Board has also recommended to offer 20% Right Certificates at a premium of Rs. 9/- per Certificate in proportion of 1 certificate for every 5 certificates held. The entitlement of right Certificates being declared simultaneously will not be applicable on Bonus Certificates as declared above.
Annual Review Meeting
The Annual Review Meeting of the Modaraba will be held on October 31, 2012 at 04:00 a.m. at the Registered Office 21/3 sector 22, Korangi Industrial Area, Karachi, to review the performance of the Modaraba for the year ended June 30, 2012.
Book Closure
The Certificate Transfer Books of the Modaraba will be closed from October 25, 2012 to October 31, 2012 (both days inclusive), Transfers received in order, upto close of business on October 24, 2012 at our Registrar Office M/s Noble Computer Services (Pvt.) Limited, Floor, House of Habib Building, 3 – JCHS, main Shahra e Faisal, Karachi will be treated in time for the purpose of above entitlement to the transferees.
For more information, contact:
Salman Sabir advocate
Company Secretary
Allied Rental Modaraba
21/3, Sector No. 22,
Korangi Industrial Area,
Karachi-74900
UAN: 111 250 250
Tel: 021-3506 6901-13
Fax: 021-35088915-18