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Karachi, September 19, 2012 (PPI-OT): We have to inform you that the Board of Directors of our Modaraba Management Company in their meeting held on 19 September 2012 at 10:30 a.m., at Room No. 405, 4th Floor, Beaumont Plaza, Civil Lines Quarters, Beaumont Road, Karachi recommended the following;
Cash Dividend
A final profit distribution for the year ended 30 June 2012 at Rs.6.50 per Certificate i.e. 65%.
Financial Results
The financial results of the Modaraba are as follows:
|
Rs. ‘000’ |
||
|
2012 |
2011 |
|
| Sales |
711,425 |
681,364 |
| Cost of sales |
612,621 |
588,809 |
|
——— |
———- |
|
| Gross profit |
98,804 |
92,555 |
| Operating expenses |
35,347 |
29,425 |
|
——— |
———- |
|
| Operating profit |
63,457 |
63,130 |
| Murabaha charges |
(5,076) |
(5,321) |
| Other income |
2,109 |
1,805 |
| Diminution on re-measurement of investments |
(30) |
(62) |
|
——— |
———- |
|
|
60,460 |
59,552 |
|
| Modaraba company’s management fee |
5,441 |
5,360 |
|
——— |
———- |
|
| Profit before taxation |
50,019 |
54,192 |
| Taxation |
30,419 |
26,619 |
|
——— |
———- |
|
| Profit for the year |
24,600 |
27,573 |
| Appropriation: |
|
|
| -Transfer to Statutory Reserve |
4,920 |
5,515 |
|
——— |
———- |
|
| Profit after appropriation |
19,680 |
22,058 |
|
——— |
———- |
|
| Earnings per certificate – basic and diluted Rs. |
8.20 |
9.19 |
The Annual Review Meeting of the Modaraba will be held on 22 October 2012 at 11:30 a.m. at 33C, Behind Mail Mansion, Shahrah-e-Quaid-e-Azam, The Mall, Lahore.
The Certificate Transfer Books of the Modaraba will be closed from 15 October 2012 to 22 October 2012 (both days inclusive). Transfers received, at the office of our share Registrar M/s. Technology Trade (Pvt.) Ltd., Dagia House, 241-C, PECHS, Block-2, Karachi at the close of business hours on 14 October 2012 will be treated in time for the purpose of above entitlement to the transferees.
The final profit will be paid to the certificate-holders whose names will appear in the Register of
Members on 14 October 2012.
For more information, contact:
Shabir Ahmad Jamsa
Company Secretary
First Imrooz Modaraba
Room No. 405, 4th Floor,
Beaumont Plaza,
Beaumont Road. Civil Lines Quarters,
Karachi – 75530, Pakistan
Tel: (+92-21) 111 IMROOZ, 3522 2743
Fax: (+92-21) 3522 2668
E-mail: inquiries@imrooz.com