Home / Financial Results / Pervez Ahmed Securities Limited’s financial results for the year ended June 30, 2011

Pervez Ahmed Securities Limited’s financial results for the year ended June 30, 2011

Karachi: This is to inform you that the Board of Directors in their meeting held on Friday October 7, 2011 at Registered Office of the Company have approved accounts of the Company for the year ended June 30, 2011.

Please also note that directors have not recommended any dividend / bonus or right shares in this meeting.

Financial results of the Company for the year ended June 30, 2011 are being enclosed as per Annexure-A.

The auditors have expressed an adverse opinion with respect to going concern assumption in their report. However the management is committed for the revival of operations in its proposed diversification of business.

PERVEZ AHMED SECURITIES LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED JUNE 30, 2011

 

2011

2010

Rupees

Rupees

Profit on sale of investments – Net 623,965 3,490,919
Dividend income 310,400 784,826
 ———- ———-
 934,365 4,275,745
Administrative expenses (3,306,209)  (5,571,498)
———- ———-
Operating (Loss) (2,371,844) (1,295,753)
Other operating expenses (10,150,000)  (225,000)
Finance cost (20,464,413) (29,834,005)
Other operating income  26,952,960 162,431
———- ———-
 (6,033,297) (31,192,327)
Deficit on re-measurement of investments

at fair value through profit or loss – Net

 (3,709,839) (8,559,527)
 ———- ———-
Loss before Taxation and
Share from Associated Undertaking (9,743,136) (39,751,854)
Share of loss from associated undertaking (1,165,402) (2,597,849)
———- ———-
Loss before Taxation  (10,905,538) (42,349,703)
Taxation (74,766)
———- ———-
Loss after Taxation (10,983,304) (42,349,703)
 ———-  ———-
Loss per Share – Basic (0.14)  (0.55)

 

For more information, contact:
Pervez Ahmed Securities Limited
C107 Block 2 Clifton
Tel: 92-21-5291855,
Fax: 92-21-5291814.
Cell: 92-300-8435373
Email: suleman@pervezahmed.net

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