Home / Financial Results / B.F. Modaraba’s financial results of (BFM) for the year ended June 30, 2011

B.F. Modaraba’s financial results of (BFM) for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of the E A. Management (Pvt.) Limited, the Management Company of B.F. Modaraba (BFMOD) in their Meeting held on September 30, 2011; approved the accounts of BFM for the year ended June 30, 2011 and approved the following:

 

1) Cash Dividend

 

Cash Dividend @ 15% i.e. Rs. 1.5 per certificate

And/ Or

 

2) Bonus Issue                      And/ Or

Nil

 

3) Right Certificates

Nil

 

The financial results of B. F. Modaraba are enclosed.

 

The Annual Review Meeting of the Modaraba will be held on October 25, 2011 at 02:00 p.m. at the registered office of the Modaraba at 4th Floor, Bank House No.1, Habib Square, M . A. Jinnah Road, Karachi.

 

For the purpose of ascertaining entitlement of aforementioned Cash Dividend, the certificate transfer books of the Modaraba will be closed from October 18, 2011 to October 25, 2011 (both days inclusive)- Transfers received at the share registrar office of the Modaraba, M/s. C and K Management Associates (Pvt.) Ltd, at 404 – Trade Tower, Abdullah Haroon Road, Near Metropole Hotel, Karachi, at the close of business on 17-10- 2011 will be treated in time for the purpose of above entitlement to the transferees.

 

Profit And Loss Account for the Year Ended June 30, 2011

 

June

2011

June

2010

Rupees

Rupees

Operating income 29,489,100 11,913,492
Less:
Operating expenses 2,955,435 2,522,999
Amortization on Ijarah assets 3,901,625 149,029
 ———- ———-
6,857,060 2,672,028
———- ———-
Profit before impairment loss 22,632,041  9,241,464
Impairment loss on available
for sale investments (2,997,099)
 ———- ———-
Profit before charging management fee 22,632,041 6,244,365
Management fee (2,263,204)  (624,437)
———- ———-
20,368,837 5,619,928
Provision for workers welfare fund (182,170)
 ———- ———-
Profit before taxation 20,368,837 5,437,758
Taxation (2,877,414) (1,943,296)
– For the year  (2,877,414) (1,943,296)
– Prior year  (91,755)
 ———- ———-
(2,877,414) (2,035,051)
———-  ———-
 17,491,422 3,402,708
———- ———-
Earnings per certificate-basic and diluted 2.33 0.45

 

For more information, contact:
B.F. Modaraba
4th Floor, Bank House No. 1,
Habib Square M. A. Jinnah Road,
Karachi- 74000, Pakistan.
Tel: (0092-21) 111-786-878,
Fax: (0092-21) 32421010
E-mail: info@bfmodaraba.com.pk
URL: www.bf-modaraba.com.pk

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