Home / Financial Results / First Dawood Investment Bank Limited’s financial results of First Investment Bank Limited for the year ended June 30, 2011

First Dawood Investment Bank Limited’s financial results of First Investment Bank Limited for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of First Dawood Investment Bank Limited (FDIBL) in their meeting held on Monday October 03, 2011 at 12:30 p.m. at 1900-B, Saima Trade Towers, I. I. Chundrigar Road., Karachi, recommended the following:

Cash Dividend                                   Nil       And/ Or

Bonus Shares                                    Nil       And/ Or

Right Shares                                    Nil       And/ Or

(5) Any Other Entitlement/Corporate Action      Nil

And / Or

(5) Any Other Price-Sensitive Information       Nil

The copies of profit and loss account and auditors report are enclosed.

The Annual General Meeting of First Dawood Investment Bank Limited will be held on Tuesday October 25, 2011 at 8:00 p.m. at 1900-B, Saima Trade Towers I.I. Chundrigar Road Karachi.

The Share Transfer Books of the Company will be closed from October 18, 2011 to October 25, 2011 (both days inclusive) the Transfer received at the Registrar Office, FD Registrar Services (SMC-Pvt) Ltd at 1108, 11th Floor, Trade Center, I. I. Chundrigar Road, Karachi at the close of business on October 18, 2011 will be treated in time for the purpose of above entitlement to the transferees.

Auditors’ Report to the Members

 

2011 2010
Note Rupees Rupees
Income
Lease income 25,673,141 31,450,035
Return on placement, finances, deposits and investments 32 76,282,837 161,220,336
(Loss) /gain on sale of securities-net (1,688,667) 32,369,985
Income from long term finances 31,868,561 106,964,812
Loss on disposal of financial assets (18,707,169)
Loss on disposal of investment in associate (162,961)
Brokerage income 2,556,330
Other income/(loss)  33 78,829,979 (41,607,915)
 ———– ———–
192,258,682 292,790,622
Provisions /Changes in Fair Value
(Provision) / reversal for lease lease and doubtful recoveries 34 (49,427,259) 206,927,166
Provision for impairment 35  (30,509,886) (5,501,389)
Deficit on revaluation of investment property  5,462,624
Deficit on remeasurement of held for trading securities  –  (75,329)
 ———– ———–
 (74,474,521) 201,350,448
 ———– ———–
 117,784,161 494,141,070
Expenditure
Administrative expenses 36 88,027,391  99,622,885
Finance cost 37 18,403,423  123,891,205
 ———–  ———–
 (106,430,814)  (223,514,090)
 ———– ———–
11,353,347 70,626,980
Share of profit / (loss) of associates 38 1,551,349 (36,373,779)
———– ———–
Profit before Taxation 12,904,696  234,253,201
Taxation
Current year  39 (4,375,523) (4,105,523)
Prior year (3,141,555)
Deferred (49,412,183) 147,528,543
———– ———–
(56,928,911) 143,423,020
 ———– ———–
(Loss)/ profit after taxation (44,024,215) 377,676,221
 ———– ———–
(Loss)/earnings par share – basic – Rupees  40  (1.16) 6.03
———-  ———–
(Loss) /earnings per share – diluted- Rupees 40 (0.33) 6.03

 

The annexed notes from 1 to 50 form an integral part of these financial statements,

For more information, contact:
First Dawood Investment Bank Limited
19th Floor, Tower B,
Saima Trade Towers,
I.I Chundrigar Road, Karachi-74000.
111-DAWOOD (111-329-663)
Fax: (92-21) 3227-1912/3

Leave a Reply

Scroll To Top