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|
|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%|
|Administrative and operating expenses||(324,419,661)||(386,334,866)||-16.0%|
|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%|