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

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
 20182017% 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              32,279,2701092.7%
          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%


Posted on: 2018-07-30T11:13:00+05:00