First Al-Noor Modaraba’s financial results for financial year ended June 30, 2012

Karachi, September 20, 2012 (PPI-OT): We have to inform you that the Board of Directors of Al-Noor Modaraba Management (Private) Limited, Management company of First Al-Noor Modaraba (FANM) in their meeting held on September 20, 2012 at 04:00 pm at Karachi, recommended the following:

(i) Cash Dividend

A final Cash Dividend for the year ended June 30, 2012 at Rs. 0.80 per share i.e. 8%. This is in addition to Interim Dividend (s) already paid at Rs. Nil per share i.e. Nil%.

The financial results of the Company are as follows:

For the year ended

June 30

June 30

2012

2011

(Rupees)

Profit from trading operations

12,539,066

14,454,615

Income on musawarnah receivables

7,034,650

15,574,794

Income on modaraba receivables

1,853,962

2,920,049

Income from Ijarah

3,831,454

3,584,889

Income from investments

14,388,222

8,480,734

———-

———-

39,647,354

45,015,081

Administrative and Operating Expenses

(17,185,604)

(19,473,350)

Financial and other charges

(236,342)

(989,489)

———-

———-

(17,421,946)

(20,462,839)

———-

———-

Operating Profit

22,225,408

24,552,242

Other income

1,827,679

5,489,028

———-

———-

24,053,088

30,041,271

Unrealised gain/ (loss) on re-measurement of investments at
fair value through profit or loss

(2,457,203)

451,375

Impairment loss on re-measurement of investments in listed securities (AFS)

Share of profit from associates

85,490

3,560,579

———-

———-

(21,681,374)

(34,053,225)

Modaraba management fee

(2,168,137)

(3,405,323)

———-

———-

19,513,237

30,647,903

Workers Welfare Fund

(382,612)

(600,939)

———-

———-

Profit before taxation

19,130,625

30,046,964

Income tax expense

(911,827)

(154,539)

———-

———-

Profit after taxation

18,218,798

29,892,425

———-

———-

Earning per certificate – basic

0.87

1.42

The Share Transfer Books of the Company will be closed from October 23, 2012 to November 7, 2012 (both days inclusive). Transfer received in order at the close of business on or before October 22, 2012 with the shares registrar of the company, M/s Technology Trade (Private) Limited located at Dagia House, 241-C, Block 2, P.E.C.H. Society, Karachi will be considered in time for the purpose of the above entitlement, for transfer/change of address and for eligibility to attend the Annual Review Meeting.

The Annual Review Meeting of the Company will be held on October 29, 2012 at 4:30 p.m. at the Registered Office of the company in Karachi.

For more information, contact:
Roofi Abdul Razzak
Company Secretary
First Al-Noor Modaraba
96-A, Sindhi Muslim Co-operative Housing Society,
Karachi-74400, Pakistan.
Tel: 34558268-34552943-34552974
Fax: 34553137
Telex: 20357 NOOR PAK,
E-mail: fam@cybr.net.pk

Leave a Reply