Sigma Leasing Corporation Limited’s financial results for the year ended June 30, 2011

Sigma Leasing Corporation Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held at 12:00 p.m. on August 13, 2011 have approved the following.

1) Dividend

The Directors have decided to declare a final dividend of 5% (percent) for the year ended June 30, 2011.

2) The financial results of the company are as under:

 

2011

2010

(Rupees)

Income
Lease income 25,051,982 46,776,876
Mark-up on deposits/ placements 3,840,602 3,122,924
Other operating income 19,584,831 25,298,755
———- ———-
Expenses
Administrative and operating expenses 20,553,155 24,326,062
Financial charges 189,763 19,781,292
———- ———-
20,742,918 44,107,354
———- ———-
Operating Income 27,734,497 31,091,201
Provision for diminution AFS investments 3,304,524
Unrealised loss on revaluation of UFT investments 2,077,569 7,607,407
Provision for potential lense losses 4,612,571
Bad debts written off 57,028 16,052,793
———- ———-
2,134,597 31,577,295
———- ———-
Profit / (loss) before taxation 25,599,900 (486,094)
Provision for taxation
Current 17,446,424 8,228,830
Prior (2,833,655) (3,688,237)
Deferred (10,089,749) (11,762,970)
———- ———-
4,523,020 (7,222,377)
———- ———-
Net profit for the year 21,076,880 6,736,283
———- ———-
Earnings per share – basic and diluted 0.70 0.22

 

For more information, contact:
Arfan Ali Rashid
CFO and Company Secretary
Sigma Leasing Corporation Limited
Sigma House 8-C, Block, P.E.C.H.S.,
Off: Shahrah-e-Faisal, Karachi – 75400,
Pakistan.
Tel: 34557233-4
Fax: 34544439
Email: info@sigma-leasing.com
Web: www.sigma-leasing.com

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