First Capital Mutual Fund Limited’s financial results for the year ended 30 June 2011

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Karachi: We have to inform you that the Board of Directors of our Company in their meeting held at 03:00 pm. on Monday, 26 September 2011 have recommended the followings:

 

Bonus Shares	Nil
Cash Dividend	Nil
Right Issue	Nil

 

Financial Results

The financial results of the Company are as under:

Profit and Loss Account for the year ended 30 June 2011

 

	2011	2010
	Rupees	Rupees
Income
Capital gain- net	21,975,049	37,838,5l2
Dividend income	12,126,039	10,125,103
Return on Market Treasury Bills	3,064,382	–
	———-	———-
Interest on bank deposits	7,167,180	3,980,543
Other Income	578,700	–
	44,911,350	51,944,158
Unrealized diminution in value of investments at fair value	(2,691,570)	(9,751,533)
	———-	———-
through profit or loss- net
	42,219,780	42,192,625
Expenses
Remuneration to asset management company	5,008,853	4,878,698
Securities transaction cost	5,489,016	4,948,998
Fee and subscription	460,838	524,284
Custodian fee	1,464,665	1,444,031
Printing	334,318	342,166
Auditors’ remuneration	395,000	344,500
Legal and professional charges	197,000	118,000
Workers’ Welfare Fund	–	578,700
Bank charges	136,491	77,300
	———-	———-
	13,486,181	13,256,677
	———-	———-
Profit before taxation	28,733,599	28,935,948
Provision for taxation
Taxation	2,744,151	1,012,510
	———-	———-
Profit after taxation	25,989,448	27,923,438
	———-	———-
Earning per share-basic and diluted	0.87	0.93

 

Further the Board of Directors of the Company has decided to convene the Annual General Meeting (“AGM”) of the Company on Monday, 31 October 2011 at 11:00 a.m. at the Registered Office of the Company 103-C/II, Gulberg-III, Lahore.

The Share Transfer Books of the Company will remain closed from 22 October 2011 to 31 October 2011 (both days inclusive). Transfers received at THK Associates (Pvt.) Limited, Ground Floor, State Life Building No.3, Dr, Ziauddin Ahmad Road, Karachi, the Registrar and Share Transfer Office of the Company at the close of the business on 21 October 2011 will be treated in time.

 

For more information, contact:
Tariq Majeed
Company Secretary
First Capital Mutual Fund Limited
103-C/II, Gulberg- III,
Lahore-Pakistan
UAN: 92-42-111-947-947
PABX: 92-42-35757591-94
Fax: 92-42-35757590,