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Karachi: We have to inform you that the Board of Directors of our company in their meeting held at 12:00 p.m. on August 13, 2011 have approved the following.
1) Dividend
The Directors have decided to declare a final dividend of 5% (percent) for the year ended June 30, 2011.
2) The financial results of the company are as under:
|
2011 |
2010 |
|
|
(Rupees) |
||
| Income | ||
| Lease income | 25,051,982 | 46,776,876 |
| Mark-up on deposits/ placements | 3,840,602 | 3,122,924 |
| Other operating income | 19,584,831 | 25,298,755 |
| ———- | ———- | |
| Expenses | ||
| Administrative and operating expenses | 20,553,155 | 24,326,062 |
| Financial charges | 189,763 | 19,781,292 |
| ———- | ———- | |
| 20,742,918 | 44,107,354 | |
| ———- | ———- | |
| Operating Income | 27,734,497 | 31,091,201 |
| Provision for diminution AFS investments | – | 3,304,524 |
| Unrealised loss on revaluation of UFT investments | 2,077,569 | 7,607,407 |
| Provision for potential lense losses | – | 4,612,571 |
| Bad debts written off | 57,028 | 16,052,793 |
| ———- | ———- | |
| 2,134,597 | 31,577,295 | |
| ———- | ———- | |
| Profit / (loss) before taxation | 25,599,900 | (486,094) |
| Provision for taxation | ||
| Current | 17,446,424 | 8,228,830 |
| Prior | (2,833,655) | (3,688,237) |
| Deferred | (10,089,749) | (11,762,970) |
| ———- | ———- | |
| 4,523,020 | (7,222,377) | |
| ———- | ———- | |
| Net profit for the year | 21,076,880 | 6,736,283 |
| ———- | ———- | |
| Earnings per share – basic and diluted | 0.70 | 0.22 |
For more information, contact:
Arfan Ali Rashid
CFO and Company Secretary
Sigma Leasing Corporation Limited
Sigma House 8-C, Block, P.E.C.H.S.,
Off: Shahrah-e-Faisal, Karachi – 75400,
Pakistan.
Tel: 34557233-4
Fax: 34544439
Email: info@sigma-leasing.com
Web: www.sigma-leasing.com