Overall profits decrease by 39% for Arif Habib Limited, during the year ending on 30th June 2018: earnings report

MG News | July 30, 2018 at 11:13 AM GMT+05:00

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Arif Habib Limited, on July 30, 2018, announced its financial results for the year ended June 30, 2018.

In their report to PSX, the company reported a 23.6% reductions in Operating Revenue and a 99% loss on net sales of investments, as compared to the year ending on June 30th 2017. They further suffered a loss of 101% on re-measurement of investment property.

Unrealised gain on re-measurement of investment property increased by 1092%.

Other charges went up by 650%, while Other income reduced by 36.2%

Overall, Arif Habib Limited suffered a deccrease of 39% in profits after taxation, during the period.

Consequently, the company further reported a decrease of 39% on Earnings per share – basic and diluted.

The company declared a final Cash Dividend at Rs.3 per share i.e. 30%. The Board of Directors has also recommended issuing Bonus Shares in the proportion of 20 shares for every 100 shares held i.e. 20%

Arif Habib Limited Profit and Loss for the Year Ended June 30,2018
	2018	2017	% Change
Operating Revenue	656,107,961	858,463,896	-23.6%
Capital gain/(Loss) on sale of investments - net	5,232,628	895,224,653	-99.4%
Gain/(Loss) on re-measurement of investments	5,070,055	(375,367,091)	-101.4%
Unrealised gain on re-measurement of investment property	384,990,000	32,279,270	1092.7%
	1,051,400,644	1,410,600,728	-25.5%
Administrative and operating expenses	(324,419,661)	(386,334,866)	-16.0%
Finance Cost	(184,795,545)	(138,484,513)	33.4%
Other charges	(56,626,589)	(7,543,701)	650.6%
Other income	167,451,360	262,654,579	-36.2%
Profit before taxation	653,010,209	1,140,892,227	-42.8%
Provision for taxation	(116,754,113)	(260,356,779)	-55.2%
Profit after taxation	536,256,096	880,535,448	-39.1%
Earnings per share- basic and diluted	9.75	16.01	-39.1%

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