B.R.R. Guardian Modaraba’s financial results for the year ended June 30, 2011
Karachi: We are pleased to inform you that the Board o f Directors of B.R.R. Investment (Pvt) Limited Manager of B.R.R Guardian Modaraba (BRR) in their meeting held on Friday, September 30, 2011 at 11:00 a.m. at 1900-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi and recommended the following.
(i) CASH DIVIDEND
It has been approved by the Board of Directors to issue cash dividend of Re. 0.25 per Modaraba Certificate i.e. 2.50%.
(ii) BONUS ISSUES NIL
(iii) RIGHT SHARES NIL
(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION – NIL
(V) ANY OTHER PRICE SENSITIVE INFORMATION NIL
The Financial Results of BRRGM is enclosed.
The Annual Review Meeting of B.R.R Guardian Modaraba will be held on October 24, 2011 at 3:00 p.m. at 1900-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi.
The Certificate Transfer Books of the Modaraba will be closed from October 18, 2011 to October 24, 2110 both days inclusive) the Transfers received at the Registrar Office F.D. Registrar Services (SMC-Pvt) Ltd at 108, 11th Floor, Trade Centre I.I. Chundrigar Road, Karachi at the close of business on October 17, 2011 will be treated in time for the purpose of above entitlement to the transfers.
B.R.R. GUARDIAN MODARABA PROFiT AND LOSS ACCOUNT FOR THE YEAR ENDED JUNE 30,2011
|Income on musharaka and murabaha finance||239,865,475||232,387,615|
|Return of investments||25||67,870,137||101,677,248|
|Share of loss from associate||–||(11,242,846)|
|Markup on bank balances||10,792,543||9,539,932|
|Profit on disposal of fixed assets||62,417,552||–|
|Amortisation on jeased assets||53,301,501||170,881,382|
|Provision against dooubtful rceivable – net||31||9,193,714||17,845,695|
|Loss on revalution of investmens – held for trading||7,650,203||–|
|Modaraba management company’s fee||32||4,728,207||–|
|Provision for Workers’ Welfare Fund||33||851,077||–|
|Profit/(loss) before taxation||41,702,786||(161,233,731)|
|Profit/(loss) for the year||41,402,86||(161,233,731)|
|Earning/(loss) per certificate – basic and diluted||35||0.53||(2.07)|
The annexed notes from 1 to 45 form an intergral part of these financial statement
For more information, contact:
B.R.R. Guardian Modaraba
1500-A Saima Trade Towers
I.I Chundrigar Road,
Tel: 92 (21) 111 329 663, 92 (21) 2271874-14
Fax: 92(21) 227191213