First Fidelity Leasing Modaraba’s financial results for the year ended June 30, 2011

First Fidelity Leasing Modaraba’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our Modaraba in their meeting held on October 8, 2011 at 2:00 p.m. Ground Floor, 90, A-1, Canal Rank, Gulberg II, Lahore and recommended the following:

 

(i) Cash Dividend Nil
(ii) Bonus Shares Nil
(iii) Right Shares Nil
(iv) Any Other Entitlement/Corporate Action Nil
(v) Any Other Price-Sensitive Information Nil

 

The financial results of We Modaraba are attached as annexure “A”.

The Annual Review Meeting of the Modaraba will be held on October 31, 2011 (Monday) at 11:00 A.M at 6th Floor M. M. Tower 28-A, Block – K, Gulberg II Lahore.

The Certificate Transfer Books of the Modaraba will be remain closed from October 25, 2011 to October 31, 2011 (both days inclusive) for the determination of names of the certificate holders for attendance of Annual Review Meeting. Certificate holders whose names are entered in the Register of certificate holders as on October 24, 2011 shall be entitled to attend the meeting.

 

ANNEXURE “A”

Rupees

Rupees

June 2011

June 2010

Income  71,465,790 55,883,639
Expenses  42,202,058 61,811,636
 ———- ———-
Operating profit/(Loss) before provisions and taxation
Provision for non performing receivables 29,263,732  (5,927,997)
(19,422,111)  (5,602,009)
———- ———-
9,841,621 11,530,006
Modaraba Company’s management fee 984,162
———- ———-
Profit / (Loss) before taxation 8,680,310 (11,530,006)
Taxation (319,071)
———- ———-
Profit/(Loss) after taxation 8,680,310 (11,849,077)
———- ———-
Profit / (loss) per certificate basic and diluted 0.33 (0.45)

 

For more information, contact:
Mohammad Waheed
Company Secretary
First Fidelity Leasing Modaraba
Ground Floor 90, A-1 Canal Bank,
Gulberg II, Lahore.
Tel: 042-2405555
Fax: 042-2402873

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