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First Constellation Modaraba’s financial results for the period ended June 30, 2011

Karachi: We hereby confirm to you that the Board of Directors in their meeting held today on September 30, 2011, approved the Annual Accounts of First Constellation Modarba (FCONM) for the period ended June 30, 2011, and no Dividend/Bonus/Right, was announced for the period ended June 30, 2011.

The financial results of the Modaraba are as follows:-

 

Year Ended

June 30, 2011

Year Ended

June 30, 2010

Rupees

Rupees

Operating Income 5,898,005 5,374,844
Unrealized gain/loss on marketable securities 1,373,029 1,082,229
 ———  ———
7,271,034 6,457,073
EXPENSES
Operating and administrative expenses (5,874,408)  (4,903,366)
 ———  ———
Operating profit  1,396,625 1,553,707
Other operating income 1,322,376  691,557
 ———  ———
Profit for the year 2,719,002  2,445,264
Modaraba Company’s Management fee (247,182)  (222,297)
——— ———
PrOfit/(loSS) before tax  2,471,820 2,222,967
Taxation provision (66,469)  (105,075)
 ———  ———
Profit/(loss) after tax 2,405,351  2,117,893
Appropriation:
Statutory Reserves 20%  (481,070) (423,579)
 ———  ———
Net profit for the year 1,924,281 1,694,314
———  ———
Earning per certificate 0.37 0.33

 

 

The Certificates Transfer Books of the Modaraba shall be closed from October 21, 2011 to October 28, 2011. (both days inclusive). Transfer received at the registrar’s office of the Modaraba (Noble Computer Services (Pvt.) Limited, Mazzanlne Floor, House of Habib Building, Main Shahrah-e-Faisal, Karachi, at the close of Business on October 20, 2011, shall be treated in time for the purpose of payment of Registration of Certificates. Registrar M/S. Noble Computer Services (Pvt.) Limited, offices are open between 9:30 a.m to 12:30 p.m from Monday to Thursday and Friday between 9:30 p.m to 12:00 noon. Notice for holding Annual Review Meeting shall be communicated shortly.

Three Hundred (300) Copies of Printed Annual Accounts of First Constellation Modaraba for period ended June 30th 2011, shall be sent to KSE shortly.

For more information, contact:
First Constellation Modaraba
2nd Floor,
Trade Center, I.I chandigar Road,
Karachi,
Pakistan.
Tel: 32634192
Fax: 32626963

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