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
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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