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Financial Results

KASB Securities Limited’s Financial Results for the Second Quarter and Half Year Ended June 30, 2011

Karachi: We have to inform you that (the Board of Directors of KASB Securities Limited (KASBSL) in their meeting held on August 25, 2011 at the 11:00 am, at the 5th floor, Trade Centre, I.I .Chundrigar Road, Karachi has approved the financial results of the Company for the Second quarter and Half Year Ended June 30, 2011 and recommended a NIL payout.

The Unaudited financial results of the Company for the afore-said period are as follows:

 

Half year ended

Quarter ended

30 June

30 June

2011

2010

2011

2010

(Rupees in ‘000’)

Operating revenue 99,665 154,607 45,243 83,824
Gain on sale of investments – net 26,909 20,839 3,541 8,011
Dividend income  4,433 6,278 1,661 962
Net unrealised loss on remeasurement of

Investments at fair value through profit or loss

(17,632) (962) (22,413) (13,774)
Other operating revenue 26,708 24,227 13,833 16,292
 ——- ——- —— ——
140,083 204,989 41,865 95,315
Operating and administrative expenses (152,185) (145,454) (73,640) (73,159)
(Provision)/ reversal for doubtful debts  (12,949) 2,845 (1,578)  (17,830)
Impairment loss on available-fore-sale investments  (22,241) (35,648) (22,241) (6,670)
 ——- ——- —— ——
Operating (loss) / profit (47,292) 26,732 (55,594) (7,344)
Finance cost  (40,504) (35,968)  (19,492) (18,069)
——- ——- ——  ——
(87,796)  (9,236)  (75,086)  (25,413)
Other income 13,550 6,919 8,809 3,324
——-  ——- ——  ——
Loss before taxation (74,246) (2,317)  (66,277)  (22,089)
Taxation
Current (4,173)  (10,820) (2,034) (6,143)
Deferred 581 1,654  269 625
 ——-  ——- —— ——
(3,592) (9,166)  (1,765) (5,518)
——- ——- ——  ——
Loss after taxation  (77,838)  (11,483) (68,042)  (27,607)
——-  ——- ——  ——

(Rupees)

Loss per share basic and diluted  (0.78)  (0.11) (0.68) (0.28)

 

 

The Unaudited Consolidated financial results of the Company for the afore-said period are as follows:

 

Half year ended

Quarter ended

30 June

30 June

2011

2010

2011

2010

(Rupees in ‘000’)

Operating Revenue 99,665 154,607 45,243 83,824
Gain on sale of investments-net 26,909 20,839 3,541 8,011
Dividend income 4,433 6,278 1,661 962
Net unrealised loss on remeasurement of

Investments at fair value through profit or loss

 (17,632) (962) (22,413) (13,774)
Other operating revenue 27,091 24,227 14,041 16,292
——-  ——- —— ——
140,466 204,989 42,073  95,315
Operating and administrative expenses (153,193) (145,454) (73,110)  (78,159)
(Provision) / reversal of provision for doubtful debts (12,949) 2,845 (1,578) (17,830)
Impairment loss on available-for-sale investments  (22,241)  (35,648)  (22,241) (6,670)
 ——- ——-  ——  ——
Operating (loss)/ profit (47,917) 26,732  (54,856) (7,344)
Finance cost (40,504) (35,968)  (19,492) (18,069)
 ——- ——- —— ——
(88,421)  (9,236) (74,348) (25,413)
Other income 13,550  6,919  8,809  3,324
——- ——-  —— ——
Loss before taxation  (74,871) (2,317) (65,539) (22,089)
Taxation
Current (4,177) (l0,820)  (2,036) (6, 143)
Deferred 581 1,654 269 625
——- ——-  —— ——
(3,596) (9,166) (1,767) (5,518)
——-  ——- —— ——
Loss after taxation (78,467)  (11,486)  (67,306) (27,607)
——-  ——-   ——  ——

(Rupees)

Loss per share-basic and diluted (0.78) (0.11)  (0.67)  (0.28)

 

For more information, contact:
KASB Securities Limited
5th Floor, Trade Centre,
I.I. Chundrigar Road,
Karachi-74200,
Pakistan.
UAN: +92 21 111 535 535
Fax: +92 21 3262 4635

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