First Al-Noor Modaraba’s financial results for financial year ended June 30, 2011

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Karachi: We have to inform you that the Board of Directors of Al Noor Modaraba Management (Private) Limited, Management Company of First Al-Noor Mobaraba (FANM) in their meeting held on September 15, 2011 at 04:15 pm at Karachi, recommended the following:

(i) Cash Dividend

A final Cash Dividend for the year ended June 30, 2011 at Rs. 0.80 per share i.e. 8%. This is in addition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil %.

The financial results of the Company are as follows:

	For the year ended
	June 30	June 30
	2011	2010
Profit from trading operations	14,454,615	10,141,788
Income on musawarrah receivables	15,574,794	10,192,964
Income on Modaraba receivables	2,920,049	9,562,644
Income from Ijarah	3,584,889	5,301,708
Income from investments	6,852,310	5,853,498
	———-	———-
	43,386,657	41,055,602
Administrative and Operating Expenses	(19,473,350)	(13,924,639)
Financial and other charges	(989,489)	(3,477,557)
	———-	———-
	(20,462,839)	(17,402,196)
	———-	———-
Operating Profit	22,923,818	23,653,406
Other income	7,117,453	2,242,704
	———-	———-
	30,041,272	25,896,110
Unrealised gain / (loss) on re measurement of investments at fair value through profit or loss	451,375	(1,626,920)
Impairment loss on re-measurement of investments  in listed accurities (AFS)	–	(12,559,891)
Share of profit from associates	3,560,579	1,161,919
	———-	———-
	34,053,226	12,871,218
Modaraba management fee	(3,405,323)	(1,287,122)
	———-	———-
	30,647,903	11,584,096
Workers Welfare Fund	(600,939)	(316,786)
	———-	———-
Profit before taxation	30,046,964	11,267,310
Income tax expenses	(154,539)	(232,507)
	———-	———-
Profit after taxation	29,892,425	11,034,803
	———-	———-
Earning per certificate – basic	1.42	0.53

 

The Share Transfer Books of the Company will be closed from September 12, 2011 to September 26, 2011 (both days inclusive). Transfers received at M/s Progressive Management Services (Private) Limited located at 10th floor, Mehdi Towers, A-115, Sindhi Muslim Co-operative Housing Society, Karachi, at the close of business on September 26, 2011 will be treated in time for the purpose of above entitlement to the transferred.

For more information, contact:
Roofi Abdul Razzak
Company Secretary
First Al-Noor Modaraba
96-A, Sindhi Muslim Co-operative Housing Society,
Karachi-74400,
Pakistan.
Ph: 34558268
Fax: 34553137
E-mail: fam@cyber.net.pk