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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
  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%

 

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

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